As part of the overall reform desired by Pope Francis for the Holy See and Vatican City State, aimed at greater transparency and strengthening of controls in the economic and financial fields, the Holy Father has approved the new Statute of the Financial Information Authority, which from today will be named the “Authority for Supervision and Financial Information (ASIF).

The revision was made necessary both to align the Statute to the tasks effectively assigned to the Authority - aside from the original function of financial intelligence and combating money-laundering and the financing of terrorism, since 2013 the Authority has also exercised the activity of supervision of the IOR - and to give rise to some significant organisational changes.

Besides the new name, the main novelties include a renewed distribution of the roles between the Presidency and the Directorate - strategic in nature for the first, aimed at operational efficacy and efficiency for the second - as well as the institution of a new unit, dedicated to “Regulation and Legal Affairs”.