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New rules for Vatican financial oversight approved by Pope
St. Peter's Basilica.Credit: Stephen Driscoll/CNA.
St. Peter's Basilica.Credit: Stephen Driscoll/CNA.
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.- Pope Francis on Nov. 15 approved a new document on the rules for the Holy See's financial oversight agency to distinguish better the roles and functions of its leadership.

The Pope's document, an apostolic letter called a motu proprio, aims to help the Vatican’s Financial Intelligence Authority “fulfill even more adequately its institutional functions in full autonomy and independence” while also being consistent with the legal framework of the Holy See and Vatican City, the Vatican Press Office said Nov. 18.

The new statutes create a specific office for “prudential supervision.” It also distinguishes the role and functions of the Financial Intelligence Authority president, board of directors, and directorate. The document takes effect Nov. 21.
 
The Vatican Press Office noted that earlier declarations from Pope Francis aimed to set norms for “transparency, supervision and financial intelligence” and to strengthen safeguards against “potential illicit activities in the financial sector.”

The Vatican is working to implement a long-term strategy to meet international financial standards, following several scandals and allegations of money laundering involving Vatican officials.

Tags: Vatican Finances, Pope Francis

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Nov
26

Liturgical Calendar

November 26, 2014

Wednesday of the Thirty-Fourth Week in Ordinary Time

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Catholic Daily

Gospel of the Day

Lk 21:5-11

Gospel
Date
11/25/14
11/24/14
11/23/14

Daily Readings


First Reading:: Rev 15: 1-4
Gospel:: Lk 21: 12-19

Saint of the Day

St. Romuald »

Saint
Date
11/25/14

Homily of the Day

Lk 21:5-11

Homily
Date
11/25/14
11/24/14
11/21/14