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I want to offer you all a break for a minute and turn to Mr. Swartz. Normally, we would certainly have had 2 panels, but we really did not know just how the Us senate would certainly be running today, so in an effort to make certain we got with all the treaties today, we did this as one panel.

Swartz, you explain in your testimony and your statements that the treaty with Bermuda additionally punctures financial institution secrecy and also supplies a mechanism for us obtaining the info we require. There have actually been some shared lawful aid treaties which contain arrangements related straight to sharing bank documents or other financial information.

That was a provision that was prepared and also taken on in the context of the E.U.

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Under that provision, arrangement's possible for feasible requesting party asking for seek information look for info whether an account exists in the requested country, nation in the case of the E.U., one of the requested member statesParticipant Afterwards, the request, if there is a recognition of an account, have to be adhered to up with a typical common lawful help treaty.

As well as when it come to Bermuda, our record of collaboration has actually been great. We believe that the record we carry the manufacturing of documents, including financial institution records, is such that we are confident that the arrangements included in this common legal assistance treaty, which do call for participation on the manufacturing of documents, will certainly suffice to make certain that we obtain the documents we need for our monetary examinations as well as various other examinations.

A few other MLATs additionally allow for urgent, non-written type demands to be made. It's my understanding that in Bermuda, it needs to remain in written kind. Any kind of reason that arrangement was not consisted of in this agreement? Mr. Swartz. Mr. Chairman, while it is real that the Mutual Lawful Assistance Treaty does need demands in written form, it was the judgment of the mediators that it was enough that, in this instance, with respect to Bermuda, we would have the ability to obtain quick feedbacks to our requests as well as likewise provide such actions to Bermuda's requests, especially due to the fact that we have a method currently established that will continue, our team believe, under the treaty of being able to convey those demands with email or via fax.

Legislator Cardin. So was this, essentially, a decision made by UNITED STATE arbitrators, that it was not needed, understanding how we can rapidly get faxes as well as emails sent? Is that reasonable sufficient to claim, or not? Mr. Johnson. Senator, if I can aid on that particular one? Legislator Cardin. Certain. Mr. Johnson.

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Bermuda withstood that due to the fact that they intended to ensure that the requests were clear and also in a much more official method. In the settlements, it also ended up being clear that they accepted that such demand could be made by fax or by e-mail. The real issue they were worried about was not locating a rapid ways to make a request, however really simply taking oral demands off the table.

So we're positive that we have actually got the means in location that we can make immediate requests of them in a manner that will certainly be efficient. Mr. Swartz. Mr. Chairman, if I could add, in reality, while it is a benefit to be able to make oral requests, in practice, it's extremely uncommon that we do so.

Senator Cardin. My main worry is just, in immediate issues, that it's not delayed. As well as with modern interaction, it seems to me that can most likely be managed. I'm more concerned regarding bank documents. Mr. Johnson, do have any kind of discuss the bank records issue? Mr. Johnson. Once more, not especially on the bank concern.

The distinction in between being able to do a dental request or having the ability to use one of these various other really rapid methods, we assume, is not substantial. Legislator Cardin. There have actually been some issues elevated concerning the adequacy of Bermuda law with regard to loss of proceeds as well as instrumentalities of criminal offenses.

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Swartz. Mr. Chairman, we are. Obviously, the growth of forfeit law is a crucial and dynamic matter. We have actually seen a number of modifications throughout the years, including here in the United States. Yet the Shared Legal Help Treaty in Article 17 does obligate Bermuda to offer support to the United States in proceedings associating with forfeit of proceeds as well as instrumentalities of criminal offense, to the degree allowed by the legislation of Bermuda.

We've had two instances of successful ask for restraint and forfeit of possessions. Both instances were a success and also we were able to obtain the funds. As a general issue, aid is readily available under the regulations of Bermuda, and I do think that is necessary to tension, when it come to cold, confiscating, and also restraining properties, consisting of for issues relating to terrorism and terrorism financing.

But it must be noted that loss support is not limited to what is allowed under Bermuda's residential regulation. When it come to an U.S. order, Bermuda can not waive a particular instrumentality of nondrug offenses, since that power does not exist locally. Again, that's restricted to instrumentalities in nondrug violation cases.

Senator Cardin. In the Bermuda agreement, there's a stipulation that is not unknown to us, where Bermuda can reject teamwork in capital situations.

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Are we hindered as an outcome of that or is there a method which we have the ability to comply under this treaty, even in those cases? Mr. Swartz. Mr. Chairman, our company believe and also we hope we still would certainly have the ability to cooperate. Bermuda indicated, as well as has actually encouraged the United States, that it schedules the right to reject help in capital situations where the sentence consists of a possible execution, counting on the-- unlike the vital public policy stipulation of Article 3 of the convention.

We have that experience with various other nations that have put similar interpretations on the shared legal aid responsibilities, and also we have actually been able to work out plans in a number of instances that permit us to get evidence or go over whether the evidence is significant sufficient to go onward with some kind of more actions being taken.

Mr. Johnson. Mr. Johnson. Yes, Senator, if I could simply contribute to that, one of the reasons this treaty took as long it did to negotiate as well as end is because it was vital to us to see to it that there wasn't an express restriction on support in resources situations in the treaty itself.

Swartz relevant to you. And also that way we think that assists maintain the principle that's essential to us, that such teamwork needs to be available, irrespective of the sort of situation. And we assume this has also borne out with a few other countries, where despite having comparable issues regarding teamwork in capital cases, they have, for example, been able to give aid to the nonpenalty phase of a trial or one more celebration examination.

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Legislator Cardin. They do hold the right under this treaty to refute collaboration where the United States criminal justice system is looking for capital penalty? Mr. Johnson. Legislator, they hold the right under the treaty to not offer assistance if are contrary to public plan or their essential interests, and they have informed us that they interpret that to permit them, in death sentence instances, to work out that.

Legislator Cardin. I understand that. I just wished to make it clear that they would not be an infraction of the treaty. We understand their interpretation, that if there was a case pending right here that we required their assistance, where, clearly, the prosecutors were looking for the capital punishment, Bermuda might make a decision not to cooperate under this treaty (foreign tax credit).

Swartz. If I can state, Mr. Chairman, notably, the treaty would call for, considering that this would certainly be a denial under Write-up 3 of the treaty, that initially there had to be consultations with the United States, before that denial can move forward. As well as I believe that's an essential element of the negotiation that Mr.

As opposed to having a specific stipulation, this is among a set of problems under which support may be denied after appointment, and, to name a few things, that there must be factor to consider regarding whether help can be offered, based on such conditions as the asked for nation considers essential. As well as our experience because regard has actually been that we usually can find ideal guarantees to enable evidence to be created, at the very least for first analysis of the importance of evidence in the event on the whole.

And also I believe that would certainly be handy for us to have that information in this committee. Mr. Swartz. Thank you. foreign tax credit. We 'd rejoice to provide that. Legislator Cardin. Ms. Mc, Carthy, you have the easiest task here, given that this agreement was previously approved by this board. As I claimed in my opening, we approved it far too late in the 111th Congress for activity.

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Have there been any type of considerable changes in our investment connection with Rwanda considering that last November when you provided testimony on this treaty? Ms. Mc, Carthy. Thank you, Mr. Chairman. What we have actually seen since last November is a boost in United States investment in Rwanda, and I can give you a couple of instances.

In February of this year, we have Hilton Hotels; it's is going to open up a significant hotel in Kigali. And also, likewise, Marriott Hotels is entering to facilitate the country's growing hospitality market. I would state that, offered this pattern of raised financial investment, that it is essential that the protections be managed for them.

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You additionally stated the truth that the United States is checking out other bilateral investment treaties in Africa. I believe we have five existing reciprocal investment treaties in Africa. Can you just share with us various other countries that the United States has revealed rate of interest in working out treaties?

I assume that completes the questioning. I do appreciate your patience with the board and thank you extremely much for your testimony today.

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As set out listed below, we would certainly such as to supply upgraded information on reported U.S. financial investment task 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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As well as I believe that would certainly be helpful for us to have that information in this board. Mr. Swartz. Thank you. We would certainly be thankful to provide that. Legislator Cardin. Ms. Mc, Carthy, you have the most convenient task below, because this agreement was formerly approved by this committee. As I said in my opening, we authorized it too late in the 111th Congress for activity.

Have there been any type of substantial changes in our investment partnership with Rwanda considering that last November when you offered statement on this treaty? Ms. Mc, Carthy. Thanks, Mr. Chairman. What we have seen considering that last November is an increase in United States investment in Rwanda, and also I can offer you a couple of examples.

In February of this year, we have Hilton Hotels; it's is going to open up a significant resort in Kigali. And, additionally, Marriott Hotels is entering to assist in the country's growing hospitality industry. So I would say that, given this pattern of enhanced investment, that it is crucial that the defenses be managed for them.

financiers. Senator Cardin (foreign tax credit). I thanks for that. You additionally discussed the reality that the United States is exploring various other reciprocal financial investment treaties in Africa. I believe you pointed out one other nation. I believe we have five present reciprocal financial investment treaties in Africa. Can you simply show us various other countries that the United States has revealed rate of interest in discussing treaties? Ms.

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Legislator Cardin. Thank you. I have actually been informed by the team that I ought to ask the concern of whether the management still sustains the Us senate approval of the Rwanda treaty, since it was held over from the last Congress. So, for the record? Ms. Mc, Carthy. We absolutely do. Senator Cardin.

I think that completes the examining. We might have some extra inquiries for the record. As you recognize, the document continues to be open for 24-hour, so you obtain a break. That's a pretty rapid turnaround time for this committee. Yet I do value your patience with the board and thank you quite for your testament today.

As set out below, we would certainly like to offer upgraded details on reported UNITED STATE investment task in Rwanda. In 2009, the supply of U.S. foreign direct financial investment in Rwanda was $1 million (according to the Bureau of Economic Evaluation).

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