The Luxembourg Institute for Global Financial Integrity (LIGFI), an independent and non-profit association, has the purpose of being a Center of Excellence for the global financial sector on empirical research into business standards and practices based on professional excellence, ethics and integrity. Such empirical research is carried out through Work Committees made up of members and partners of LIGFI.
The Work Committee is organized around a theme. Within its theme, each committee sets up Task Forces to focus on specific issues. The specific issue addressed gives rise to a Report and its recommendations that, once approved, are widely circulated within and outside the global financial sector in order to encourage open and constructive dialogue. The purpose of the recommendations is to lead to changes in financial business standards and practices that are based on the principles of integrity, namely fairness, transparency, responsibility and accountability.
Work Committees receive analytical and logistical support of LIGFI’s Research and Advisory Services Department. The department is to be constituted by highly qualified research professionals with both extensive academic and industry experience. Given that members and partners in the committees, and their Taskforces, come from locations worldwide, LIGFI’s website provides a secure work area in which a Work Committee and its Taskforces can actively engage in dialogue, exchange of information and research.
The Work Committees are organized and coordinated with the Executive Director of the Institute. The committee is as mentioned to be constituted around a general theme that is appropriate and pertinent to a set of core issues facing the global financial sector, national financial centers and jurisdictions. Current themes considered for setting up Work Committees are the following:
- Corporate Financial Governance
- Professional Ethics
- Financial Market Integrity
- Co-Regulation
- Offshore Financial Centers
- Microfinance
- Money Laundering
- Corruption
- Funding of Bribery, Organized Crime and Terrorism
