Financial Action Task Force & Global Regulatory Bodies

Global regulatory agencies have significant power to affect the flows of funds across international borders. Policies of the Financial Action Task Force, a global agency charged with helping countries reduce and eliminate money laundering and terrorist financing, for example, have directly led to the passage of laws in countries which either intentionally or inadvertently restrict the flows of philanthropic dollars across borders.

These resources will help U.S. foundations and grantmakers understand global regulatory bodies, particularly the Financial Action Task Force, and the Council’s work on the subject.

In-Depth knowledge on Financial Action Task Force & Global Regulatory Bodies

The Public Policy and Legal Affairs team at the Council diligently follows and consistently engages on regulatory matters that impact the nonprofit and philanthropic sector. See below for comments and letters the Council has submitted on behalf of our members and the field to strengthen philanthropy.

The Council actively asserts its leadership role in the global policy space to ensure a positive regulatory environment for global philanthropy. To do that, the Council develops substantive policy positions on behalf of its members and submits regulatory comments and letters to U.S. policymakers, foreign governments and intergovernmental bodies, and advocates before domestic and international bodies that set policies that impact cross-border philanthropy.

As part of COF’s global philanthropy program, this members-only teleconference provided an overview on policy developments in Mexico that are impacting the flow of U.S. philanthropy into the country. On the call, expert speakers delved into the implications for funders of a new anti-money laundering law, changes to the Mexican tax code, and the consequences of the U.S.-Mexico trade agreement. Foundation leaders also explained how they navigate the changed regulatory environment and highlighted a range of new resources on grantmaking in Mexico.