Daily Brief – April 8, 2016



China Steps Up Panama Papers Censorship After Leaders’ Relatives Named – Guardian

An unprecedented glimpse into the financial affairs of China’s ruling elite is making the Party nervous.


China Was Largest Market for Panama Papers Firm: Investigation – South China Morning Post

China and Hong Kong accounted for one-third of Mossack Fonseca’s business.


China Pushes Marxism for Party Members to Root Out Wrongdoing – Reuters

Beijing believes that “ideological consistency” at all levels of the Party will help reduce corruption.




Panama Papers: Putin Rejects Corruption Allegations – BBC

The Russian president dismissed the Panama Papers as a Western “information product,” before claiming that Sergei Roldugin spent all his money on musical instruments.




The West Is Enabling Graft in Ukraine – New York Times

“…The main enabler of corruption in Ukraine isn’t Mossack Fonseca, or even Panama; it’s the West.”


United States


U.S. Readies Bank Rule on Shell Companies Amid “Panama Papers” Fury – Reuters

The rule will force banks to identify beneficial – rather than just legal – owners of their customers. No timetable has been announced.


Panama Papers Pose Ethics Issues For U.S. Prosecutors – Politico

Many of the files may be covered by attorney-client privilege or other protections, rendering them inadmissible in court.


Cracking Shell Company Secrecy – New York Times

Six expert takes on how the U.S. should address the loopholes exposed by the Panama Papers.


United Kingdom


UK Regulator Sets Deadline for Panama Papers Reviews – Financial Times

Banks have until April 15 to investigate any involvement and set out a response.


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