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Well, thanks significantly. I desire to offer you all a break for a moment and transform to Mr. Swartz. You've been extremely patient, the three of you. I appreciate that significantly. Normally, we would certainly have had two panels, but we really did not recognize how the Senate would certainly be running today, so in an effort to make sure we obtained with all the treaties today, we did this as one panel.

Swartz, you explain in your testament as well as your statements that the treaty with Bermuda likewise punctures financial institution privacy and also provides a system for us getting the info we need. There have been some shared lawful assistance treaties that consist of stipulations associated straight to sharing financial institution records or various other monetary info.

That was a stipulation that was prepared and adopted in the context of the E.U.

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Under that provision, it's possible for the requesting party to seek information look for details whether an account exists in the requested country, nation in the case of situation E.U., one of the requested member asked for. Thereafter, the demand, if there is a recognition of an account, have to be adhered to up through a typical shared legal help treaty.

And when it come to Bermuda, our record of participation has been excellent. Our team believe that the document we have on the production of records, including financial institution records, is such that we are positive that the arrangements included in this mutual lawful help treaty, which do need collaboration on the production of documents, will be adequate to make sure that we obtain the documents we require for our economic investigations as well as various other investigations.

Some other MLATs additionally allow for immediate, non-written kind demands to be made. Mr. Chairman, while it is real that the Common Legal Help Treaty does require requests in written form, it was the judgment of the mediators that it was sufficient that, in this case, with respect to Bermuda, we would certainly be able to obtain quick responses to our requests as well as likewise provide such reactions to Bermuda's demands, particularly due to the fact that we have a practice already established that will continue, we believe, under the treaty of being able to communicate those demands via email or via fax.

Legislator Cardin. Mr. Johnson. Mr. Johnson.

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Bermuda stood up to that since they intended to make certain that the requests were clear and also in a much more official method. However in the negotiations, it likewise came to be clear that they accepted that such demand could be made by fax or by e-mail. So the actual concern they were concerned concerning was not discovering a fast means to make a request, but really just taking oral demands off the table.

We're certain that we have actually obtained the means in location that we can make urgent requests of them in a method that will be efficient. Mr. Swartz. Mr. Chairman, if I may add, as a matter of fact, while it is a benefit to be able to make oral requests, in practice, it's very uncommon that we do so.

Senator Cardin. My main concern is simply, in immediate matters, that it's not postponed. As well as with modern-day communication, it appears to me that can probably be handled. I'm much more worried regarding financial institution records. Mr. Johnson, do have any talk about the bank records concern? Mr. Johnson. Once again, not specifically on the bank problem.

The distinction in between having the ability to do an oral request or having the ability to make use of one of these other extremely rapid methods, we believe, is not substantial. Senator Cardin. There've been some problems elevated regarding the competence of Bermuda law relative to forfeitures of earnings as well as agencies of criminal offenses.

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Swartz. Mr. Chairman, we are. Naturally, the advancement of forfeiture regulation is a crucial and also dynamic issue. We've seen a variety of adjustments over the course of the years, consisting of here in the United States. The Shared Legal Aid Treaty in Short article 17 does obligate Bermuda to supply assistance to the United States in proceedings associating to forfeiture of profits and instrumentalities of crime, to the level allowed by the legislation of Bermuda.

We've had two examples of successful requests for restraint and also forfeiture of properties. Both instances were a success as well as we had the ability to get the funds. As a basic issue, aid is available under the laws of Bermuda, and I do believe that is very important to tension, with regard to cold, confiscating, as well as restraining possessions, consisting of for matters associating with terrorism and terrorism financing.

It needs to be noted that forfeit support is not restricted to what is allowed under Bermuda's residential legislation. With regard to a UNITED STATE order, Bermuda can not waive a particular agency of nondrug offenses, since that power does not exist locally. Yet again, that's restricted to instrumentalities in nondrug offense instances.

Legislator Cardin. In the Bermuda arrangement, there's a stipulation that is not strange to us, where Bermuda can reject teamwork in capital cases.

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Are we impeded as an outcome of that or exists a means in which we are able to comply under this treaty, also in those cases? Mr. Swartz. Mr. Chairman, we think and we hope we still would certainly have the ability to comply. Bermuda showed, as well as has encouraged the United States, that it books the right to reject help in resources cases where the sentence includes a possible execution, depending on the-- in contrast to the crucial public policy provision of Short article 3 of the convention.

We have that experience with various other countries that have actually put similar analyses on the shared lawful support responsibilities, as well as we have actually been able to function out setups in a number of cases that allow us to acquire evidence or discuss whether the evidence is considerable enough to go forward with some kind of further actions being taken.

Mr. Johnson. Mr. Johnson. Yes, Senator, if I might just include in that, one of the factors this treaty took as lengthy it did to discuss and end is because it was necessary to us to ensure that there wasn't an express restriction on support in funding instances in the treaty itself.

Swartz pertaining to you. And that method we think that helps maintain the principle that is essential to us, that such teamwork should be readily available, irrespective of the sort of situation. And we believe this has actually additionally substantiated with some other countries, where also with comparable problems about collaboration in capital instances, they have, for example, been able to offer support to the nonpenalty stage of a trial or one more event examination.

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They do hold the right under this treaty to reject teamwork where the United States criminal justice system is seeking resources penalty? Senator, they hold the right under the treaty to not offer aid in situations that are in contrast to public plan or their crucial rate of interests, and also they have told us that they interpret that to permit them, in fatality penalty instances, to exercise that.

Senator Cardin. I recognize that. I just intended to make it clear that they would not be a violation of the treaty. We recognize their interpretation, that if there was a situation pending right here that we required their help, where, plainly, the prosecutors were looking for the execution, Bermuda might choose not to coordinate under this treaty (foreign tax credit).

Swartz. If I might say, Mr. Chairman, significantly, the treaty would certainly need, since this would certainly be a rejection under Article 3 of the treaty, that first there had to be examinations with the United States, before that rejection could move forward. And I assume that's a crucial facet of the negotiation that Mr.

Rather than having an explicit arrangement, this is just one of a set of problems under which assistance may be refuted after consultation, as well as, to name a few things, that there have to be factor to consider regarding whether assistance can be given, subject to such conditions as the requested nation considers needed. And also our experience because respect has been that we usually can find ideal guarantees to allow proof to be created, a minimum of for initial assessment of the value of proof in the case generally.

As well as I think that would certainly be handy for us to have that information in this board. Ms. Mc, Carthy, you have the simplest work right here, given that this arrangement was previously accepted by this board. As I claimed in my opening, we accepted it too late in the 111th Congress for action.

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Have there been any considerable modifications in our financial investment connection with Rwanda because last November when you offered statement on this treaty? Ms. Mc, Carthy. Thank you, Mr. Chairman. What we have seen given that last November is a boost in United States investment in Rwanda, and I can give you a couple of instances.

Additionally, in February of this year, we have Hilton Hotels; it's is going to open a significant hotel in Kigali. And also, also, Marriott Hotels is going in to promote the nation's expanding hospitality market. So I would certainly say that, given this pattern of raised investment, that it is very important that the securities be managed for them.

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You also mentioned the reality that the United States is checking out other reciprocal financial investment treaties in Africa. I believe we have five current reciprocal financial investment treaties in Africa. Can you just share with us other nations that the United States has revealed rate of interest in working out treaties?

I think that completes the examining. I do appreciate your persistence with the committee and also thank you really much for your statement today.

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Response. As laid out below, we wish to supply upgraded info on reported U.S. investment task in Rwanda. Various other than these updates, the responses offered by the Department's witness in the 111th Congress continue to be accurate. 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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And also I think that would be practical for us to have that details in this board. Ms. Mc, Carthy, you have the most convenient job below, since this contract was previously accepted by this committee. As I stated in my opening, we approved it as well late in the 111th Congress for activity.

Have there been any type of significant modifications in our financial investment relationship with Rwanda considering that last November when you gave testament on this treaty? What we have seen given that last November is a boost in United States financial investment in Rwanda, and I can provide you a few instances.

Likewise, in February of this year, we have Hilton Hotels; it's is mosting likely to open a major hotel in Kigali. As well as, likewise, Marriott Hotels is entering to assist in the nation's expanding hospitality industry. So I would state that, given this pattern of boosted investment, that it is essential that the protections be afforded for them.

investors. Legislator Cardin (foreign tax credit). I thank you for that. You likewise stated the fact that the United States is discovering various other reciprocal financial investment treaties in Africa. I think you stated another nation. I believe we have 5 current reciprocal investment treaties in Africa. Can you simply show us various other nations that the United States has shown rate of interest in discussing treaties? Ms.

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Senator Cardin. Thanks. I've been informed by the staff that I should ask the inquiry of whether the management still sustains the Us senate passage of the Rwanda treaty, considering that it was held over from the last Congress. For the record? Ms. Mc, Carthy. We absolutely do. Senator Cardin.

I assume that finishes the questioning. We might have some extra concerns for the document. As you recognize, the record remains open for 24 hr, so you get a break. That's a rather rapid turn-around time for this board. Yet I do appreciate your patience with the board as well as thank you significantly for your testament today.

Answer. As set out below, we would certainly such as to supply updated info on reported U.S. investment task in Rwanda. Apart from these updates, the answers given by the Division's witness in the 111th Congress remain exact. In 2009, the stock of UNITED STATE foreign straight financial investment in Rwanda was $1 million (according to the Bureau of Economic Evaluation).

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