May
23
2014

FATCA Compliance: Asia is next!

It is hard to imagine a recent regulation as far-reaching in its effect as The U.S. Foreign Account Tax Compliance Act (FATCA). Although originally envisioned as a means to detect U.S. taxpayers using offshore holdings to evade taxation, FATCA has mushroomed into a global phenomenon with implications for nearly every participant in the financial services and alternative investment industries.…

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May
21
2014

FATCA Update: FATCA Transition Period for 2014 and 2015

On Friday May 2nd, 2014, the IRS released Notice 2014-33 introducing a new transition period for 2014 and 2015 for purposes of enforcement and administration of the Foreign Account Tax Compliance Act, or FATCA, but only for those financial institutions making a good faith effort to comply with the regime.…

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Apr
22
2014

How Technology Facilitates Regulatory Compliance

The global financial crisis of 2008 changed the entire world of financial services, including the alternative investment market, and precipitated the rapid expansion of regulatory initiatives. New regulations, combined with increasing reporting demands from investors, have created an environment with a strong and growing focus on transparency, as well as an equally strong interest among managers in using technology to ease their regulatory burdens.…

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Dec
20
2013

France, Cayman Islands, Costa Rica, Malta, British Crown Dependencies Sign FATCA IGAs

On November 14, 2013, France signed an intergovernmental agreement (“IGA”) regarding FATCA with the United States, becoming the 10th country to join the global FATCA network taking effect on July 1, 2014. The Cayman Islands, Costa Rica, Malta, the British Crown Dependencies (Jersey, Guernsey, and Isle of Man), and the Netherlands followed suit shortly thereafter, bringing the total number of IGA countries to 17, and joining the ranks of the U.K., Denmark, Germany, Ireland, Japan, Mexico, Norway, Spain and Switzerland.…

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