The FSB names and shames the non-cooperative jurisdictions
FSB Statement :”The Financial Stability Board (FSB) today published a statement providing an update of information on the jurisdictions evaluated to date under its initiative to encourage the adherence of all countries and jurisdictions to regulatory and supervisory standards on
international cooperation and information exchange.
Of the approximately 60 jurisdictions evaluated by the FSB selected in 2010 on the basis of their financial importance, 46 have demonstrated sufficiently strong adherence to the relevant standards”.
Comment: Therefore 46 jurisdictions belong to Heavens. The names of these angels are:
Australia /Cyprus/ India/Mexico Sweden/Austria/Czech Republic /Ireland /Netherlands /Switzerland/Bahrain /Denmark /Isle of Man/ New Zealand/Thailand/Belgium/Finland/Italy /Norway /UAE/Bermuda /France/ Japan /Poland/United Kingdom/Brazil/ Germany/ Jersey/ Portugal/ United States/British Virgin Islands/ Gibraltar /Korea/ Saudi Arabia/Canada /Guernsey Liechtenstein/ Singapore/Cayman Islands /Hong Kong SAR /Luxembourg/ South Africa/China /Iceland /Malta/ Spain
FSB Statement : “Thirteen others are taking the actions recommended by the FSB but have yet to
demonstrate sufficiently strong adherence”.
Comment: The redeeming souls populating the FSB Purgatory, and the nature of their sins are the following:
Argentina (banking, insurance)
Barbados (banking, securities)
Chile (banking, securities)
Mauritius (banking, insurance)
Russia (banking, insurance, securities)
Turkey (banking, insurance)
FSB Statement: “As noted in previous annual public statements,
Venezuela elected not to engage in dialogue with the FSB and has therefore been
determined to be non-cooperative. On 19 June 2014, the FSB issued a notice advising
financial institutions to be aware of this determination and therefore to exercise appropriate
caution in conducting business in Venezuela or with financial institutions supervised by the
Comment: The Hall of (in)fame hosts one single soul.
FSB Statement: “The FSB has decided to add to the evaluation pool at the beginning of 2015 six jurisdictions
that were not in the initial pool but now rank in the 60 financially mos important according to latest data: Kuwait, Macao, Nigeria, Panama, Peru and Qatar”.
Comment: to be continued