European Parliament Approves Resolution Calling for U.S. to Join Common Reporting Standard

The European Parliament has issued a release on the adoption of a new resolution in light of the Pandora Papers, including calls for investigations, clampdowns, and new laws. As part of the resolution, which was adopted on 21 October 2021, the parliament calls for action on the global stage, including for the U.S. to join the Common Reporting Standard (CRS) considering the use of certain U.S. states for financial and corporate secrecy.

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Action required on the global stage

53. Condemn…