The proposal to amend the Directive on Administrative Cooperation provides for mandatory disclosure
of potentially aggressive tax planning by extending the obligation to report cross-border tax planning arrangements to intermediaries.
The Court cautioned, however, that a discovery request for social media-related information does not trigger mandatory disclosure
of all posts.
A popular policy tool was a regime of mandatory disclosure
that required sellers to make certain informational disclosures to buyers prior to sale.
The CSR Mandatory Disclosure
included in the Track obligates only reporting of contributions if any voluntarily by corporations.
The meeting has also undertaken to ask the OECD to start discussing possible ways to address arrangements designed to circumvent reporting under the Common Reporting Standard or aimed at providing beneficial owners with the shelter of non-transparent structures, considering also model mandatory disclosure
rules inspired by the approach taken for avoidance arrangements outlined within the BEPS Action 12 Report, and to report back to the Group of Seven by their next meeting.
In addition, the proposals also include a mandatory disclosure
on BrokerCheck "if a firm is subject to existing requirements for recording all telephone conversations with customers due to having a specified percentage of registered representatives who were formerly employed by disciplined firms," it says.
The bill also provides for a mandatory disclosure
of information in the Statements of Assets and Liabilities Networth (SALN) of the following officials in their respective websites: President, Vice President, members of the Cabinet, members of Congress, Justices of Supreme Court, members of Constitutional Commissions and other constitutional offices; and officers of the armed forces with general or flag rank.
In the meantime, we need much greater transparency about industry funding, including prominently displayed disclosures of dollar amounts and proportions of total funding on group websites, as well as addition of patient advocacy groups to the Open Payments program established by the Sunshine Act, which would mean mandatory disclosure
of funding by sponsors.
This new mandatory disclosure
is sure to put a heap of stress on advisors' shoulders (and will put their records retention system to the test).
Therefore, as a step towards bringing transparency on the facilities provided by the schools for information of the Board, parents, students and other stakeholders, it has been decided to make the mandatory disclosure
of information as per the enclosed annexure by every institution/school affiliated with the Board," the circular read.
These rules, in modifying the content and dissemination of business practices, make it increasingly difficult to distinguish what derives from mandatory disclosure
and what constitutes discretionary and idiosyncratic corporate acts.
One prominent justification for the mandatory disclosure
rules that define modern securities law is that these rules encourage individual investors to participate in stock markets.