What past delegates say?

"Excellent. Lots of interactive discussions."

Tax Specialist, Prudential

"Excellent. I really enjoyed the interaction with the group."

Manager, BNP Paribas

"Great course and really good overview. The trianer was very friendly and delivered content in clear and understanding way."

Manager, Client Asset Control, Lloyds Banking Group

"Very good and interactive, very engaging througout."

Director, Macro Infortech Ltd

"Perfect. The trianer was very friendly and helpful. I felt at ease to ask questions."

Senior Tax Manager, Universities Superannuation Scheme Ltd

"Very informative. I feel much better equipped for the role."

Business Support Manager, Arbuthnot Latham

 

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CRS & FATCA Compliance & Reporting

Register Now

3 Dec 2018 London

Early Bird offer until 31 Oct £850 + VAT. Regular price £950 + VAT. 10% discount for 3 people.

Course Description

The introduction of US FATCA (Foreign Account Tax Compliance Act) in 2010 saw a clamp down on US citizens evading tax by imposing a 30% withholding tax penalty, an initiative that was to change the face of the fight on financial crime. This regulation has spread and triggered similar initiatives on a global level and in particularl the introduction of Common Reporting Standard (CRS) by the Organisation for Economic Co-operation and Development (OECD), a wider global tax transparency initiative. 

In February 2014, G20 finance ministers and governors endorsed the CRS as the new global standard for the Automatic Exchange of Information (AEoI). On May 6, 2014, forty-seven countries tentatively agreed on the CRS initiative, an agreement to share information on residents' assets and incomes automatically in conformation with the standard. CRS employed a bigger part of the existing FATCA model but with a far ambitious reach.

This practical 1 day course provides a thorough examination of both regimes, presenting a comparative review and analysis of key differences and common areas. You will learn about the requirements and solutions for complying with both regimes as well as about the key classifications, definitions and evaluations. Conducted by a practitioner who worked on FATCA and CRS implementation projects at some of the major institutions the course provides real-life examples and and case studies.

What Will You Learn

By the end of the programme you will have a solid understanding of:
 
  • Understand the scope and impact of FATCA/CRS reporting
  • 
Differences and similarities between different reporting standards 

  • Learn about customer identification and classification 

  • Learn the best practices in complying with FATCA/CRS 

  • Implementation of FATCA/CRS framework 

  • The best reporting practices 

  • Data Standards and Importance of Reference Data 

  • Implementation challenges and key success factors 

 

Book also for one of those programmes at the same time and save additional £100! (in total, not per course).

Main Topics Covered During This Training

  • Background to the FATCA/CRS reporting requirements 

  • Impact of FATCA/CRS on the Financial Services Industry 

  • Scope of FATCA/CRS Reporting
  • Review and comparison of FATCA vs. CRS
  • Reportable information and timelines
  • Definition of Reporting Financial Institutions, classification and evaluation of different cases
  • Review of Non-Reporting Financial Institutions
  • Definition of Reporting Financial Accounts, classification and evaluation of different cases, exemptions
  • Identifying Reportable Accounts  

  • Customer identification and classification process 

  • Due Diligence Process
  • Creating Rulemap 

  • Best practices in working with and complying with requirements
  • Governance: roles & responsibilities
  • 
Reporting solutions considerations 

  • Key parameters for decision making
  • 
Business model consideration
  • 
Data Standards and Importance of Reference Data 

  • Project setup, milestones, attention points 

  • Controls over the reporting 

  • Key success factor for delivering FATCA/CRS 

  • Implementation challenges 


Who Should Attend

This one day program is relevant for: 

  • Financial Officers
  • Compliance Officers
  • Risk Management Professionals 
  • External & Internal Auditors
  • Operations Managers / Officers 
  • Project Managers
  • Back Office Professionals
  • Wealth Managers and Private Banking Professionals
  • Lawyers 
  • Consultants
  • Accountants
  • Staff with roles and responsibilities in operational, businesses and central departments
Register Now

3 Dec 2018 London

Early Bird offer until 31 Oct £850 + VAT. Regular price £950 + VAT. 10% discount for 3 people.

CRS & FATCA Compliance & Reporting 

9.00 a.m. Course starts

  • Background to the FATCA/CRS reporting requirements 

  • Why FATCA/CRS was created and the reasoning in establishing the requirements 

  • How FATCA/CRS impacts the Financial Services Industry 

  • Review of AEI (Automatic Exchange of Information) regimes FATCA (US Foreign Account Tax Compliance ACT), CDOT 
(Crown Dependencies and Gibraltar Regulations), CRS (Common Reporting 
Standard) and DAC (EU Directive on Administrative Cooperation in Tax Matters) 

  • Reporting timelines across FATCA/CRS Initiatives 
  • Scope of FATCA/CRS
  • Review of Financial Accounts in scope and exemptions 

  • Identifying Reportable Accounts 

  • Customer identification and classification process
  • 
Critical categories of customers and counterparties 

  • Due diligence process (documentation, evidence, retention, self-certification, 
aggregation, change of circumstances) 

  • The purpose of the Rulemap and its general impact
  • 
Verification of compliance and anti-avoidance 

  • Supporting documentation best practices in working with and complying with FATCA/CRS requirements 

  • Governance: roles & responsibilities 

  • Reporting solutions considerations 

  • Key parameters for decision making 

  • Business model consideration 

  • Data Standards and importance of Reference Data 

  • Project setup, milestones, attention points 

  • Controls over CRS Reporting 

  • Reconciliation 

  • Key success factors for delivering FATCA/CRS
  • FATCA/CRS implementation challenges: governance, IT infrastructure, data aggregation and reporting practices 

5.00 p.m. Course ends

The Course Director is an experienced leader, investment banking professional and subject matter expert with strong commercial acumen and over 18 years experience overseeing global business intelligence, regulatory programmes and data/predictive analysis science programmes across North America, EMEA, Asia and Emerging Markets for tier 1 Investment and Asset Management banks such as Deutsche Bank (Asset Management & Investment Bank), ABN AMRO Asset Management, UBS (Private Wealth & Investment Bank), Bank of New York Asset Management, JP Morgan Asset Management and HSBC Investment Bank, RBS Investment Bank and Amoo Venture Capital Advisory.
 
An SME across various regulations such as FATCA, CRS, CDOT, MiFID, MiFID II, MiFIR, BCBS, GDPR, EMIR and Derivatives expert, Simon has over 7 years hands-on experience consulting/advising in, implementing regulations (from back to middle to front office) and training senior banking and finance executives both on the business and IT sides. He has operated in different capacity from Programme Management, Senior Business Analyst to Business Architect working within change management and operating across front office, middle office and bank office with remit extending joint accountability with other team members for M&A governance, consortium management, branding & communications, trading & settlements and transfer agency technologies of £72 Billion Asset under Management. He has also served as a non-executive Director and Business Development Director to Amoo Venture Capital Advisory, advising and reshaping regulatory financial technology for start-ups businesses in need of seed capital of between $500 thousand to $100 million. 

 

CRS & FATCA Compliance & Reporting <p>The introduction of US FATCA (Foreign Account Tax Compliance Act) in 2010 saw a clamp down on US citizens evading tax by imposing a 30% withholding tax penalty, an initiative that was to change the face of the fight on financial crime. This regulation has spread and triggered similar initiatives on a global level and in particularl the introduction of Common Reporting Standard (CRS) by the Orga ... 1543795200 London