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Published Oct 09, 21
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Well, thank you significantly. I want to offer you all a break for a minute as well as transform to Mr. Swartz. You have actually been really patient, the 3 of you. I value that significantly. Typically, we would certainly have had two panels, however we didn't know just how the Senate would certainly be running today, so in an effort to make certain we survived all the treaties today, we did this as one panel.

Swartz, you explain in your statement as well as your statements that the treaty with Bermuda also pierces bank secrecy as well as supplies a system for us obtaining the info we need. There have been some shared lawful support treaties which contain arrangements relevant straight to sharing bank documents or various other monetary info.

That was a provision that was drafted and adopted in the context of the E.U.

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Under that provision, it's possible for feasible requesting party to celebration information look for to whether an account exists in the requested countryAsked for or in the case of the E.U., one of the requested member states. Afterwards, the request, if there is an identification of an account, must be complied with up through a common common lawful assistance treaty.

As well as with regard to Bermuda, our record of collaboration has been great. Our team believe that the record we have on the production of documents, consisting of financial institution documents, is such that we are positive that the stipulations included in this mutual lawful aid treaty, which do call for teamwork on the production of records, will be adequate to guarantee that we get the documents we need for our financial examinations and various other investigations.

A few other MLATs also enable immediate, non-written form requests to be made. It's my understanding that in Bermuda, it should remain in written type. Any kind of reason that that arrangement was not included in this contract? Mr. Swartz. Mr. Chairman, while it holds true that the Mutual Lawful Support Treaty does call for demands in written kind, it was the judgment of the mediators that it was sufficient that, in this situation, when it come to Bermuda, we would have the ability to obtain expeditious feedbacks to our requests as well as additionally provide such feedbacks to Bermuda's requests, particularly since we have a practice currently established that will certainly proceed, our team believe, under the treaty of being able to communicate those requests via email or through fax.

Senator Cardin. Was this, essentially, a decision made by UNITED STATE negotiators, that it was not needed, understanding exactly how we can promptly obtain faxes and also emails sent out? Is that fair sufficient to say, or otherwise? Mr. Johnson. Senator, if I can aid on that particular one? Senator Cardin. Sure. Mr. Johnson.

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Bermuda resisted that due to the fact that they intended to make certain that the requests were clear and also in a much more official way. But in the arrangements, it also ended up being clear that they accepted that such demand might be made by fax or by e-mail. So the real concern they were concerned about was not locating a fast methods to make a request, but really just taking dental demands off the table.

We're certain that we have actually got the ways in area that we can make urgent demands of them in a means that will be efficient. Mr. Swartz. Mr. Chairman, if I could add, in fact, while it is an advantage to be able to make dental requests, in method, it's really uncommon that we do so.

Senator Cardin. My primary issue is just, in immediate issues, that it's not delayed. And also with modern interaction, it seems to me that can probably be taken care of. I'm extra concerned about financial institution documents. Mr. Johnson, do have any talk about the bank records problem? Mr. Johnson. Once again, not especially on the financial institution issue.

The difference between having the ability to do an oral demand or having the ability to utilize one of these other really rapid means, we believe, is not substantial. Legislator Cardin. There have actually been some concerns elevated regarding the competence of Bermuda law relative to loss of proceeds and also instrumentalities of criminal offenses.

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Swartz. Mr. Chairman, we are. Of program, the development of loss law is an important and progressive issue. We have actually seen a number of changes over the training course of the years, consisting of below in the United States. However the Common Legal Aid Treaty in Write-up 17 does obligate Bermuda to give aid to the United States in procedures associating to forfeiture of proceeds and agencies of criminal offense, to the degree allowed by the law of Bermuda.

We've had two examples of effective demands for restriction as well as forfeit of possessions. Both circumstances were a success and we had the ability to get the funds. As a general matter, assistance is available under the legislations of Bermuda, and also I do think that's essential to tension, with regard to cold, confiscating, and restraining assets, including for issues connecting to terrorism and also terrorism funding.

It ought to be kept in mind that forfeit aid is not limited to what is allowed under Bermuda's domestic law. With respect to an U.S. order, Bermuda can not forfeit a specific agency of nondrug offenses, because that power doesn't exist domestically. Yet once again, that's limited to instrumentalities in nondrug infraction instances.

Legislator Cardin. Thank you. Allow me simply ask the general question, as well as any kind of one of you can react to it. In the Bermuda contract, there's a stipulation that is not strange to us, where Bermuda can reject collaboration in funding situations. We comprehend, I comprehend that, so I'm not being essential of that arrangement being included in there.

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Are we prevented as an outcome of that or is there a method which we are able to comply under this treaty, even in those instances? Mr. Swartz. Mr. Chairman, our company believe and also we hope we still would certainly be able to coordinate. Bermuda showed, and also has actually recommended the United States, that it reserves the right to reject support in funding instances where the sentence consists of a feasible death sentence, depending on the-- unlike the vital public policy stipulation of Short article 3 of the convention.

We have that experience with other countries that have actually placed similar analyses on the common lawful help obligations, and also we've been able to function out setups in a number of instances that permit us to acquire evidence or review whether the proof is substantial sufficient to go forward with some kind of additional steps being taken.

Mr. Johnson. Mr. Johnson. Yes, Legislator, if I could just contribute to that, one of the reasons this treaty took as lengthy it did to work out and also wrap up is since it was necessary to us to make certain that there had not been a specific constraint on help in resources situations in the treaty itself.

Swartz relevant to you. And also that method we believe that aids maintain the principle that is necessary to us, that such cooperation should be offered, irrespective of the type of instance. And also we assume this has actually likewise substantiated with a few other nations, where despite having similar problems regarding collaboration in resources cases, they have, as an example, had the ability to supply help to the nonpenalty stage of a test or another party investigation.

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They do hold the right under this treaty to refute collaboration where the United States criminal justice system is looking for funding penalty? Senator, they hold the right under the treaty to not give aid in instances that are contrary to public policy or their vital rate of interests, and also they have told us that they interpret that to enable them, in death penalty situations, to exercise that.

Senator Cardin. I comprehend that. I just wanted to make it clear that they would not be an infraction of the treaty. We comprehend their analysis, that if there was a situation pending right here that we required their assistance, where, plainly, the district attorneys were seeking the death penalty, Bermuda could determine not to coordinate under this treaty (foreign tax credit).

If I might state, Mr. Chairman, notably, the treaty would call for, considering that this would be a rejection under Write-up 3 of the treaty, that initially there had to be consultations with the United States, prior to that rejection could go ahead. And I assume that's a crucial aspect of the negotiation that Mr.

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Rather than having an explicit provisionSpecific arrangement is one of a set of collection under which assistance may be might after refuted, assessment, as well as other thingsVarious other points there must be consideration as factor to consider whether assistance can aid given, subject to such conditions as the requested country asked for necessaryRegards

And also I think that would certainly be handy for us to have that information in this board. Mr. Swartz. Thank you. foreign tax credit. We would certainly rejoice to provide that. Senator Cardin. Ms. Mc, Carthy, you have the simplest task right here, because this agreement was previously approved by this committee. As I said in my opening, we accepted it far too late in the 111th Congress for action.

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Have there been any considerable changes in our financial investment partnership with Rwanda given that last November when you provided statement on this treaty? What we have actually seen because last November is a boost in United States investment in Rwanda, as well as I can give you a few examples.

In February of this year, we have Hilton Hotels; it's is going to open up a major hotel in Kigali. And also, also, Marriott Hotels is going in to assist in the nation's growing hospitality market. I would certainly claim that, provided this pattern of raised investment, that it is crucial that the securities be managed for them.

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You also pointed out the reality that the United States is exploring other bilateral financial investment treaties in Africa. I think we have 5 current reciprocal financial investment treaties in Africa. Can you just share with us other nations that the United States has revealed interest in negotiating treaties?

I think that completes the questioning. We could have some added questions for the document. As you understand, the document continues to be open for 24-hour, so you obtain a break. That's a pretty rapid turn-around time for this board. I do value your perseverance with the board and also thank you very a lot for your statement today.

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Answer. As laid out listed below, we would love to supply updated details on reported UNITED STATE investment task in Rwanda. Other than these updates, the solutions given by the Division's witness in the 111th Congress stay accurate. In 2009, the supply of U.S. foreign straight financial investment in Rwanda was $1 million (according to the Bureau of Economic Analysis).

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And also I assume that would certainly be useful for us to have that information in this committee. Mr. Swartz. Thank you. We 'd rejoice to provide that. Legislator Cardin. Ms. Mc, Carthy, you have the simplest work here, since this contract was formerly authorized by this committee. As I claimed in my opening, we approved it also late in the 111th Congress for activity.

Have there been any considerable changes in our investment connection with Rwanda considering that last November when you gave testament on this treaty? Ms. Mc, Carthy. Thanks, Mr. Chairman. What we have actually seen given that last November is a rise in United States investment in Rwanda, and I can offer you a few examples.

Likewise, in February of this year, we have Hilton Hotels; it's is mosting likely to open up a significant resort in Kigali. As well as, also, Marriott Hotels is going in to facilitate the nation's expanding friendliness industry. I would say that, given this pattern of enhanced financial investment, that it is crucial that the defenses be afforded for them.

You likewise pointed out the fact that the United States is checking out various other reciprocal financial investment treaties in Africa. I believe we have 5 present reciprocal financial investment treaties in Africa. Can you just share with us various other countries that the United States has shown rate of interest in bargaining treaties?

I think that finishes the examining. I do value your persistence with the board and thank you extremely a lot for your statement today.

As established out below, we would such as to give updated information on reported UNITED STATE investment activity in Rwanda. In 2009, the supply of UNITED STATE foreign straight financial investment in Rwanda was $1 million (according to the Bureau of Economic Analysis).

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