Mission
The New Rules for Global Finance Coalition was incorporated in 2006 as a non-governmental organization, with the aim to promote reforms in the rules and institutions governing international finance and resource mobilization, in order to support just, inclusive and economically sustainable global development. New rules is a networking, idea generating, nongovernmental organization that convenes critical actors and policymakers from developed and developing countries to identify politically feasible and technically sound solutions to systemic issues of international finance and resource mobilization which impede inclusive development.
Vision
New Rules for Global Finance believes that financial institutions, rules and players have a major impact on the lives of ordinary people, not just the rich, famous and politically powerful. We maintain that financial institutions can be understood and influenced, but it is important to learn the "language" and to pull back the curtain that protects secretive behavior.
New Rules promotes sunshine for financial rule making, accountability for the rule makers, and the understanding of consequences for real people and the real economy of financial decisions. We work to bring greater transparency and accountability where global rules are made, namely, in the G20, the International Monetary Fund (IMF), and the Financial Stability Board (FSB). Our hope for the future is for transparent rule-making where those who are impacted have both a voice and an understanding of the rules.
The secrecy in rule-making extends well beyond the formal financial systems of banks and non-banking financial institutions. Credible estimates of hundreds of billions of dollars leave developing countries through illicit financial flows in order to avoid tax payment to developing and developed countries alike. For this reason, New Rules cooperates with an extensive network of tax experts and activists in the Tax Justice Network to shed light on "secrecy jurisdictions." New Rules also works closely with the UN "Tax Committee" as a credible forum where developing countries can have a voice in alternative rule-making on international tax policies and practices, and works to reform the Organization for Economic Cooperation and Development (OECD), which sets international tax policy to protect the interests of its members, while expecting low income, non-member countries to implement these same rules