Asian FIs struggle with FATCA compliance as regulatory uncertainties loom
Proceedings report from The Asian Banker teleconsultation session, "The FATCA Dilemma – Issues and Implementation Challenges for Asian Banks” on issue and challenges faced by Asian banks in complying with FATCA. December 20, 2012 | Levina LimI. Introduction 1. The Asian Banker organised a teleconsultation session, “The FATCA Dilemma – Issues and Implementation Challenges for Asian Banks” to discuss the issues and implementation challenges faced by Asian financial institutions in meeting FATCA deadlines. Practical solutions were also presented and discussed. 3. The objectives of the session were: II. In attendance: The key participants in this teleconsultation were: III. Key Discussion Notes 1. The FATCA APAC market landscape IV. Detailed Discussion Notes 1. The FATCA APAC market landscape i. Regulation for financial services across Asia is fragmented, and there is no uniform take-up of the FATCA response effort although awareness and implementation among Asian FIs are growing in momentum. ii. Regions where larger FIs are moving into deep-dive implementation phase include Hong Kong, Singapore, Japan and Australia. In South... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Regulation, Risk and Regulationriskregulation,Risk and Regulation, Regulation,Risk and Regulation, Keywords:FATCA, Philip Rodd, Karl Paulson Egbert, IGA, IRS FATCA, Philip Rodd, Karl Paulson Egbert, IGA, IRS
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