New MOTU PROPRIO from the Pope

 New MOTU PROPRIO from the Pope: From 8/8 2013

http://www.vatican.va/holy_father/francesco/motu_proprio/index_en.htm

The promotion of integral human development on the material and moral demands a profound reflection on the vocation of the economic and financial sectors and their correspondence to the ultimate goal of achieving the common good.

For this reason the Holy See, in accordance with its nature and mission, participates in the efforts of the international community aimed at protecting and promoting the integrity, stability and transparency of the Economic and Financial Committee and the prevention and contrast of criminal activity.

In line with the action already undertaken in this area since the Motu Proprio of 30 December 2010 for the prevention and countering of illegal activities in the financial and monetary, that my predecessor Benedict XVI, I wish to renew the commitment of the Holy See in 'adopt the principles, and should use legal instruments developed by the international community, further adjusting the institutional framework for the prevention and combating of money laundering, financing of terrorism and proliferation of weapons of mass destruction.

With this Apostolic Letter Motu Proprio I adopt the following provisions.

Article 1

The Departments of the Roman Curia and other bodies and institutions dependent on the Holy See, as well as non-profit organizations with legal and canonical office in the State of the Vatican City are required to observe the laws of the State of Vatican City on :

a) measures for the prevention and combating of money laundering and financing of terrorism;

b) measures against those who threaten peace and international security;

c) prudential supervision of institutions performing professional activity of a financial nature.


Article 2

The Financial Information Authority acts as the prudential supervision of institutions performing professional activity of a financial nature.


Article 3

The competent courts of the State of Vatican City State exercising jurisdiction in matters above also against the Departments and other agencies and organizations dependent on the Holy See, as well as non-profit organizations with legal and canonical office in the State of the City the Vatican.


Article 4

It established the Financial Security Committee with the purpose of coordinating the competent authorities of the Holy See and the State of Vatican City on the prevention and combating of money laundering, financing of terrorism and proliferation of weapons of mass destruction. It is governed by the Statute attached to this Apostolic Letter.

Decree the present Apostolic Letter Motu Proprio be promulgated by publication in L'Osservatore Romano.

Direct that the provisions have full and lasting value, even by repealing all provisions incompatible with effect from 10 August 2013.

Given at Rome, from the Apostolic Palace, the 8th of August of 2013, the first of my Pontificate.


FRANCISCUS PP.


STATUTES OF THE FINANCIAL SECURITY


Article 1 - Composition.

1. The Financial Security Committee is composed of:

a) the Assessor for General Affairs of the Secretariat of State, who presides;
b) the Under-Secretary for Relations with States;
c) The Secretary of the Prefecture for the Economic Affairs;
d) The Deputy Secretary-General of the Governorate;
e) the Promoter of Justice in the Court of the State of Vatican City;
f) The Director of the Authority of Financial Information;
g) the Director of the Security Services and Civil Protection of the Governorate.

Article 2 - Functions.

The Financial Security Committee:

a) establishing criteria and procedures for the elaboration of the general assessment of the risks of money laundering and financing of terrorism and proliferation of weapons of mass destruction;

b) approve the overall risk assessment and regularly updated;

c) identify measures needed for the management and the control of risks;

d) coordinate the adoption and regular updating of policies and procedures for the prevention and combating of money laundering, financing of terrorism and proliferation of weapons of mass destruction;

e) promote active collaboration and exchange of information between the competent authorities of the Holy See and the State of Vatican City;

f) ensure that appropriate information to interested bodies on the risks identified;

g) adopt procedures and internal guidelines;

h) asks for information to the authorities and institutions which operate within the Holy See and the State of Vatican City;

i) demand studies and advice from external experts.

Article 3 - Sessions

1. The Financial Security Committee shall be convened by the Chairman, normally every four months, and whenever deemed necessary.

2. In case of absence of the President of the sessions are chaired by the Under-Secretary for Relations with States.

3. The President shall set the agenda of the session, coordinates the work and ensures that adequate information on the agenda shall be provided to all members.

4. The notice of meeting, containing the agenda, shall be sent to members normally five days before the date set for the meeting. In cases of emergency, the notice shall be made at least one day prior to the meeting by fax, electronic mail or other means of instant communication.

5. The deliberations of the Financial Security Committee shall be approved by an absolute majority of the members.

6. The role of Secretary is held by the Director of the Authority of Financial Information.

7. The President may invite to attend the meetings of the Committee of experts and technicians in the fields of competence.