Legal Expert Clarifies Exemptions in New Illicit Enrichment Legislation: Who’s Not on the Hook?

Bishkek, Kyrgyzstan – Amid the ongoing anti-corruption reforms in Kyrgyzstan, the State Committee for National Security’s legal counsel recently clarified which groups would not fall under the new illicit enrichment law designed to clamp down on corruption among public officials. This law, part of a broader effort to clean up government operations, has sparked wide interest and speculation about its scope and implications. The newly implemented legislation is rigorous in its approach, targeting individuals who cannot logically explain the sources of their wealth relative to their lawful income. However, specific exemptions have been made: retired … Read more

Impax Asset Management Expresses Frustration Over Complexity and Delay in Implementation of Biden’s Climate Law, Leading to Enrichment of Middlemen

Washington, D.C. – Impax Asset Management, one of the world’s largest green investment managers, has expressed frustration with certain aspects of President Joe Biden’s landmark climate law. The Inflation Reduction Act, which was introduced in mid-2022, was initially touted as a game-changer, but Impax now argues that the legislation contains too many obstacles that hinder its implementation and benefit intermediaries at the expense of green projects. Charlie Donovan, senior economic adviser at Impax and a professor at the University of Washington, criticized the clean-energy tax credits of the IRA for being overly complex and not … Read more