Pope Francis, in his latest move to fight corruption in the Vatican, issued a new decree on Thursday mandating full economic disclosure and controls for managers, including cardinals.
The decree says they must disclose at the moment of appointment and every two years after that if they have been the subject of financial investigations. It also says they cannot use tax havens, accept gifts worth more than €40 or hold real estate obtained with funds from illegal activity.
The new crackdown follows another decree issued last May in which the pope tightened the rules for procurement contracts by Vatican departments.
The signers will have to declare that they do not hold, even through third parties, investments or stakes in companies listed as being at high risk for money laundering. They cannot hold shares or other interests in companies whose policies are contrary to the Church’s social doctrine.
This was an apparent reference to pharmaceutical companies and those which severely damage the environment. The pope said employees must adhere to “internationally accepted regulations and best practices” requiring transparency from those holding key roles to combat “conflicts of interest, patronage practices and corruption in general”.
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