Geneva, Switzerland; 04 September 2015: The inaugural Financial Integrity and Transparency in Sport (FITS) FORUM drew to a close in Geneva today with the International Centre for Sport Security (ICSS) leading calls to implement an independent global integrity body to ensure financial integrity and sound governance in sport.
More than 250 influential leaders and top experts from sport, government and the financial and commercial sectors gathered at the FITS FORUM in Geneva over the past two days to seek solutions to the mounting challenges confronting sport’s commercial success and pave the way towards long overdue reform.
Speaking in his closing address on day two of the event, Emanuel Macedo de Medeiros, CEO of ICSS EUROPE and LATIN AMERICA, said:
“We have heard senior representatives from the world of sport, government, finance and business call for long-overdue reforms. We have discussed the dangers that come with obsolete legislation, poor governance, ineffective supervision and lax attitude from sports governing bodies, governments and financial supervision authorities.
“We must push national and international federations and leagues to adopt good governance principles. As stewards of the game, we must hold executives to a standard worthy of the sports they protect.
During his speech Emanuel Macedo de Medeiros suggested a five-point plan to ensure the credibility and ongoing financial development of sport, which included the following:
- Extensive governance reform in sport which includes the adoption of an agreed set of good governance principles by national and international federations and leagues
- Club licensing systems, with appropriate financial criteria for professional clubs
- An international, independent and neutral clearing house for sport related financial transactions
- A review of existing club ownership rules and the establishment of an enhanced system to ensure the integrity and transparency in club ownership
- An independent, neutral and global integrity body
Pioneered by the ICSS the FORUM provided a platform from which to addressthe crucial issues through a series of high-profile panels debating topics such as good governance in sport, money-Laundering and tax evasion, safeguarding sport from criminal infiltration, financial supervision, third party ownership and ethics.
In total more than 40 high-level speakers shared their experience over the two-day event creating a unique pool of knowledge, expertise and leadership from which to address the fundamental questions and mounting challenges facing the financial integrity and transparency of sport.