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FATCA and CRS
More than 50% of senior executives from multinational financial firms are concerned that non-compliance with the Foreign Account Tax Compliance Act (FATCA) and common reporting standard (CRS) mandates could affect the reputations of their institutions. This is according to research, FATCA and CRS: how ready are you? carried out by Thomson Reuters in partnership with Banking Technology.
‘The results demonstrate that institutions’ greatest concerns relate to regulatory uncertainty, internal readiness and compliance,’ said Michael Drinkwater, head of ONESOURCE FATCA and CRS for Thomson Reuters.
The report can be downloaded from here.
