The
Vatican press office on Monday announced the publication of a Motu
Proprio in which Pope Francis officially approves the new statutes of
the Holy See’s Financial Intelligence Authority.
This document follows
up on earlier regulations from Pope Francis, and from his predecessor
Pope Emeritus Benedict XVI, to put in place norms on financial
transparency and oversight of the Institute of Works of Religion (IOR),
commonly known as the Vatican Bank.
Please find below the full English text of the note from the Vatican press office on the new Motu Proprio:
The
Apostolic Letter issued Motu Proprio of 15 November 2013, by which Pope
Francis has approved the attached new Statutes of the Financial
Intelligence Authority (F.I.A.), is being published today. This
pontifical document will enter into force on 21 November 2013.
As is
known, with his Motu Proprio of 8 August 2013 and with the Law N. XVIII
of 8 October 2013 on norms on transparency, supervision and financial
intelligence, Pope Francis had strengthened further the institutional
framework of the Holy See and the Vatican City State to prevent and
contrast potential illicit activities in the financial sector and had
accorded to the F.I.A., in addition to the functions that it already had
on the basis of the Motu Proprio of Benedict XVI of 30 December 2010,
the function of prudential supervision of those entities that carry out
professionally financial activities.
The present Statutes adapt F.I.A.’s
internal structure to the functions it is now called to perform.
In addition, the new Statutes establish a specific office for prudential supervision, providing it with the necessary professional resources.