SIX Financial Information gets ready for FATCA

Switzerland's SIX Financial Information is now providing FATCA tax information to the IRS

Switzerland’s SIX Financial Information has begun delivering FATCA tax information to the US Inland Revenue Service, ahead of the controversial extraterritorial tax’s reporting deadline in July.

Relieving the pain and expense of compliance data management

Jon Asprey Trillium Software - 2

The data management aspects of compliance can run into tens of thousands of man-hours per institution, each year. Firms have to adapt and find new techniques to manage this increasing burden.

Banks rush to bolster compliance

Nick Patience isdirector of market development at Recommind

Firms like JP Morgan and HSBC have taken major measures to improve internal controls so that they can comply with new and changing regulations. It won’t end there.

Sapient rolls out FATCA compliance service

FATCA obliges banks to report information on their US customers to the IRS

Sapient Global Markets has released a suite of software and services designed to help companies meet FATCA, the controversial new US regulation that obliges banks to report their US customers so that they can be taxed.

Doing reference data right: cheaper, better, faster … or else


What do hundreds-of-thousands of counterparties, dozens of regulations and your many regulators all want from you? Better counterparty classification …

FATCA-style agreements present taxing times for GRC teams

Jon Asprey Trillium Software - 2

If your role has anything to do with governance, risk and compliance or with international tax agreements, then you’ll be familiar with the United States Foreign Account Tax Compliance Act and the potential impact on many of the world’s financial institutions …

Banks granted respite as US FATCA rule is delayed again

FATCA is intended to reduce the potential for tax evasion in locations such as the Cayman islands (pictured). Recent delays have given the banks more time to comply

Delays to the controversial US FATCA rule have provided a valuable window of opportunity for financial institutions to prepare.

FATCA, IGAs and AML Technology

After a long wait, the first real FATCA implementation deadlines are just around the corner. To meet the new account identification requirements, by 1 January 2014, institutions should be in the process of implementing the necessary upgrades in their onboarding and overall compliance systems and processes.

How high? Re-setting the KYC bar


Regulators are busy raising the bar for KYC systems and controls. With conflicting purposes and customer data objectives, new guidance and industry solutions are needed in 2014

FATCA woes for US au pairs in Switzerland

A chilly welcome awaits US  citizens trying to open accounts in Switzerland ...

They were never going to be happy in Switzerland about the US FATCA legislation that will be used to hunt down people avoiding US taxes, but it’s a surprise to hear that some Swiss burghers are feeling sorry for a group of US citizens who have become part of the fabric of society there.