Anti-Corruption Working Group meets in Rome
The G20 Anti-Corruption Working Group (ACWG) reconvened in Rome on 9-10 June for its second meeting of 2014.
A key outcome of the meeting was the working group’s agreement to G20 High Level Principles on Beneficial Ownership. The principles are focused on ensuring that G20 members know who own and control legal structures (such as companies) operating in their countries, and readily exchange this information with other countries. This will help prevent the misuse of legal structures to facilitate corruption, tax evasion and money laundering. The Principles will now be considered by Sherpas and Finance Deputies before being put to Finance Ministers and then Leaders for possible endorsement.
The working group also continued its discussions with G20 engagement groups on future G20 anti-corruption priorities beyond 2014. The third and final meeting of the ACWG for 2014 will be held in Paris in October.
The meeting was followed by the Fourth Annual High Level Conference for Governments and Business, which was jointly hosted by the Organisation for Economic Co-operation and Development (OECD) and Italy on 11 June. The conference promoted closer cooperation between governments and the private sector, a key priority for the G20 in 2014. The conference also held a special session focused on the G20’s goal of combatting foreign bribery, which included a panel discussion with senior officials from G20 governments and businesses, as well as the OECD and the United Nations Office on Drugs and Crime.