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Weekly Roundup: U.K. Government Questions Anti-Bribery Law, IRS Proposes Bank Data Sharing With Foreign Governments, and More
printOfficials at the Internal Revenue Service have revived a Clinton-era proposal that would require U.S. banks to turn over data to foreign governments when their citizens open accounts, Bloomberg said Friday. The proposal, published on Jan. 7, would mirror part of a U.S. law passed last year that calls on foreign financial institutions to turn over data to the U.S. officials on their American clients. The plan was first forwarded by the Clinton White House in January 2001 but stalled under the Bush Administration over concerns that it would prompt widespread capital flight. More British officials are questioning the wisdom...
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