Pope Leo XIV Introduces Reform to Holy See's Investments
Last week, Pope Leo XIV introduced a significant reform to the financial architecture of the Holy See.
With the motu proprio Coniuncta Cura, ("Shared Responsibility") the Holy Father revoked the exclusive right that the Institute for Works of Religion (IOR) had for investment management.
The new regulations open the door to the use of other foreign financial intermediaries if deemed more efficient or appropriate.
"If there is a sum to be invested, it was previously done only through the IOR; but now it can also be done through the APSA [Administration of the Patrimony of the Apostolic See]."
The reform does not seek to remove investments from the Vatican purview but rather to open the possibility of management to accredited financial intermediaries.
Author's summary: Pope Leo XIV reforms Holy See's investments.
More News
- ONLY ON 13: Relatives of family killed by drunk driver call for action
- Education advocates are worried about the furlough of federal staff supporting special education
- How to Listen When Nature Speaks — Weave News
- Vote in Favor of Recreation: An Essential Service | The Citizen
- Indianapolis airport won't play Kristi Noem's video. Legal experts say it breaks the law
- YouTube Down for More Than a Hundred Thousand Users, Downdetector Shows
- California Passes Law to Require Warning on Social Media
- Upgraded Apple Vision Pro Gets M5 Muscle, Battery Pass Through, and 120Hz | Man of Many
- What does Ghana need most? More lawyers or more problem solvers? - Ghana Business News
- Living in the past, learning for the future