A new law that removes financial assets from the control of the Vatican Secretariat of State is a step forward on the path of financial reform, said Bishop Nunzio Galantino, president of Administration of the Patrimony of the Holy See.

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VATICAN CITY -- After the Vatican Secretariat of State missed a Nov. 1 deadline to hand over the management and monitoring of its own assets to two separate Vatican bodies, Pope Francis set up a commission to make the transfer and external oversight happen.

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VATICAN CITY -- A lack of oversight and control over the Vatican Secretariat of State's investment activities may have facilitated some bad property deals, said Bishop Nunzio Galantino, president of the Administration of the Patrimony of the Holy See.

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VATICAN CITY (CNA) -- A confidential report from the Vatican’s anti-corruption authority shows that the Secretariat of State has used about $725 million, most of which came from the pope’s charity fund, in off-books operations.

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VATICAN CITY (CNA) -- The recent raid of Vatican offices is connected to an investigation into charges that Vatican money financed the development of luxury properties in London, and led to a windfall for the Vatican’s investment managers, according to an Oct. 14 report from Financial Times.

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VATICAN CITY  (CNA) -- Vatican prosecutors seized documents and electronic devices in a raid executed Tuesday at the offices of the most senior curial department.

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VATICAN CITY (CNA) -- Last week, Bishop Marcello Semeraro, secretary of the pope’s C6 Council of Cardinal Advisors announced that the group hoped to present Francis with a final draft of a new Vatican constitution in September.

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