Statement by G-20 Finance Ministers and Central Bank Governors, Busan, 5 June 2010

 

The G-20 Finance Ministers and Central Bankers met in Busan, Republic of Korea on 3-5 June 2010. In their Communiqué they refer to the work of the Global Forum. A copy of the relevant paragraph is shown below.  

 

"4. Building on progress to date, we affirmed our commitment to intensify our efforts and to accelerate financial repair and reform. Therefore, we:

 

reaffirmed our commitment to international assessment and peer review across the FSB membership. We also recommit to apply measures and mechanisms to address non-cooperative jurisdictions and ensure compliance, including by providing support. We welcomed the report by the Global Forum on Tax Transparency and Exchange of Information, the progress on the peer review process, and the development of a multilateral mechanism for information exchange open to all countries. We fully support the work of the Financial Action Task Force in the fight against money laundering and terrorist financing and regular updates of a public list on jurisdictions with strategic deficiencies. We welcomed the implementation of the FSB’s evaluation process on the adherence to prudential information exchange and international cooperation standards in all jurisdictions."