Once the rules implementing FATCA are finalized and become effective, the 2010 law will fundamentally alter the relationships financial firms maintain with their clients and each other. The FATCA rules are expected to become final in 2012, and they will impact a wide range of functions from tax operations to client onboarding. The FATCA rules will significantly change the manner in which business is conducted. Therefore, it is imperative that business units, compliance departments, operations & technology professionals, and legal personnel at both domestic and international financial firms all understand what will be required to comply with and implement these rules. We specifically plan to cover the following topics:
- In-depth analysis of the rules with a discussion on areas of concern
- Detailed review of client due diligence requirements and challenges for your existing KYC/AML processes
- Recommendations to limit the disruption of new withholding and reporting rules
- Impact of inter-governmental agreements and how local privacy law will come into play
- Technology changes required to enable withholding and reporting
Join us for SIFMA's FATCA Symposium where key regulators, industry leaders and tax experts will offer an in-depth analysis of the latest published guidance and provide practical insights as to how to best comply with and implement the regulations within your organization.