Anti-Corruption Summit: London 2016

On 12 May 2016, the United Kingdom Prime Minister David Cameron hosted an international anti-corruption summit in London. Mr Cameron announced the creation of the first ever global forum to step up international efforts on asset recovery.

He also said that the UK has secured commitments from 20 other countries at the summit to strengthen or reinforce legislation to ensure stolen assets can be recovered. The PM also announced that the UK and 20 other countries were bringing together the public and private sectors to fight corruption and money laundering.

In other commitments made at the Summit:

+ 6 countries (including the UK) will establish public registers of true company ownership while 6 more will explore doing so
+ 11 new jurisdictions will join a group of 29 countries (including the UK) already committed to sharing information on true company ownership with each other
+ 13 countries (including the UK) will apply the highest standards of transparency to public contracting by implementing the Open Contracting Data Standard
+ 8 countries (including the UK) will sign up to have their fiscal transparency independently evaluated by the International Monetary Fund
+ 12 countries (including the UK) will establish mechanisms to prevent corrupt bidders winning public contracts
+ 21 countries (including the UK) will strengthen or reinforce legislation to ensure stolen assets can be recovered
+ 19 countries (including the UK) will work with international sports bodies to promote high standards of integrity and transparency in sport
+ 8 countries (including the UK) will partner on a new International Anti-Corruption Coordination Centre, hosted in London, to help law enforcement agencies and prosecutors work together across borders to investigate and punish corrupt elites and recover stolen assets
+ 19 countries (including the UK) will establish international partnerships between institutions and professionals to change behaviours and promote integrity and professional standards
+ 16 countries (including the UK) will join a new Anti-Corruption Innovation Hub to harness new technology and innovations in the fight against corruption

ESO: Background information: Why Europe’s new tax initiative is a big deal http://www.europeansources.info/record/why-europes-new-tax-initiative-is-a-big-deal/

ESO: Background information: 'Panama papers' in a nutshell http://www.europeansources.info/record/panama-papers-in-a-nutshell/

ESO: Background information: The Panama Papers. Politicians, Criminals and the Rogue Industry That Hides Their Cash http://www.europeansources.info/record/the-panama-papers-politicians-criminals-and-the-rogue-industry-that-hides-their-cash/

Blog: LSE EuroppBlog, 13.05.16: The London Anti-Corruption Summit: one good day is not enough http://bit.ly/223WyDn

BBC News, 13.05.16: Anti-corruption summit launches global plan to recover stolen assets http://www.bbc.co.uk/news/business-36274302

The Conversation, 12.05.16: British PM right about corruption in Nigeria and Afghanistan, but they are trying to reform https://theconversation.com/british-pm-right-about-corruption-in-nigeria-and-afghanistan-but-they-are-trying-to-reform-59276

openDemocracy, 12.05.16: Why did David Cameron reject this essay from his anti-corruption book? https://www.opendemocracy.net/clare-short/why-did-david-cameron-reject-this-essay-from-anti-corruption-book

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