Council of Europe praises Italy's fight against corruption

But transparency still a problem

Council of Europe praises Italy's fight against corruption

Strasbourg, July 1 - Italy has taken important steps in fighting corruption but still has work to do on increasing financial transparency, a report by the Council of Europe's anti-corruption group said Monday. In its latest report on corruption, the council said Italy deserves to be acknowledged for its work on anti-corruption policies in business but "there are still important issues to be resolved". In particular, Italian businesses must be more transparent in their financial reporting - including privately held companies. It also suggested businesses should adopt a code of conduct for dealing with government members including restrictions on gifts. The anti-corruption group, which made 27 recommendations in October 2009, said it "regretted" the reluctance of Italian legislators to enforce stronger laws governing financial transparency by business. And it called on Italy to move more quickly on corruption investigation and trials.

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