As is known, the Prosecutor’s office started examining Cartu Bank’s case and the amendments to the Georgian legislation (Tax Code and, respectively, to the law “on Enforcement Proceedings” which changed the way the priority of liens is calculated) made at the end of 2011. Transparency International Georgia had already published several analyses regarding this issue:

• New Regulations of Tax Liens Adopted in Violation of Procedure: http://goo.gl/3rnHU
• Tax Code Amendments To Have Negative Impact on Georgian Investment Environment: http://goo.gl/ZC69J
• New Regulations Concerning Tax Lien Explained: http://goo.gl/n06Yw
• How New Regulations on Tax Liens Are Being Applied in Practice: http://goo.gl/D4Yz6

Furthermore, a State control of finance sector got tighter at the end of 2011. In particular, a number of significant amendments enhancing the powers of the National Bank and Financial Monitoring Service (FMS) had been made to the legislation on financial regulation. Transparency International Georgia had also published the blog concerning these regulations:

• Supervision of Finance Sector Getting Tighter: http://goo.gl/c5gG7

Yet, TI Georgia published the analysis of a new order issued by the FMS required Georgian commercial banks to disclose and Monitor politically active foreign persons. The order of the Head of the FMS set forth new rules for acquiring, systematizing, processing and transferring information to the FMS by commercial banks:

• Commercial Banks Required to Disclose and Monitor “Politically Active Persons”: http://goo.gl/8iXqB.