FATCA Compliance

Register Now

4 Oct 2017 London

Price £950 + VAT with 10% discount for 3 people.

Register Now

6 Dec 2017

Course Description

With US FATCA legislation now published, the major focus is now on Reporting Solutions Considerations that are effective but not commercially onerous or operationally disruptive. 

A number of key drivers for success continue to impact the consistency and methods of how new accounts are opened, the Know Your Client (KYC) process, data management, income identification, financial accounts identification, and to a larger extent business processes that support customer identification, classification and disclosure.  What solution is key to the success of FATCA Reporting? Are their economical benefits in the segregation of US activities or re-organizing business functions to achieve compliance easily?

A multiple choice test will be perfomed at the end of the course to consolidate and check participants' knowledge. 
 

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

What Will You Learn

By the end of the programme you will have a solid understanding of:
 
  • FATCA obligations and how to comply with them
  • Learn what due diligence is in the FATCA sense and how it should be performed
  • Learn which financial products have to be reported and which are exempted 
  • Reporting timelines and formats
  • Best practices in FATCA reporting and compliance
  • How to set up internal controls and address operational challenges
  • Have an understanding of the progressive reporting requirements 
  • Challenges with maintaining data standards and the importance of reference data
  • Understand the impact of CRS - Common Reporting Standards
  • Key success factors in FATCA compliance

 

Main Topics Covered During This Training

  • FATCA Reporting scope and process
  • Who is obliged to report and exemptions
  • Customer identification and classification process
  • FATCA Due Diligence & Registration Process 
  • Creating FATCA Rulemap 
  • What Income type needs to be reported
  • FATCA reporting scenarios
  • FATCA Verification of Compliance and Anti Avoidance
  • Best practices in complying with FATCA 
  • Governance, roles & responsibilities
  • Business model consideration
  • Data Standards and importance of Reference Data
  • Project setup, milestones, attention points
  • Controls over FATCA Reporting
  • Key Success factor for delivering FATCA 
  • FATCA implementation challenges: governance, IT infrastructure, data aggregation and reporting practices
  • Comparison with CRS - Common Reporting Standards

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

4 Oct 2017 London

Price £950 + VAT with 10% discount for 3 people.

Register Now

6 Dec 2017

FATCA - A 1 Day Programme 

9.00 a.m. - Course registration

9.15 a.m. - Course starts
 
Background to the FATCA reporting requirements
 
  • Why FATCA was created and the reasoning in establishing the requirements
  • How FATCA impacts the Financial Services Industry
  • FATCA Obligations under IGA- Intergovernmental Agreements (identification, due diligence, registration, documentation of account holders, payments and withholding tax issues, reporting requirements)
  • Reporting Timelines
  • Reporting Format
  • Possible regulatory action following breaches
 
FATCA Reporting 
 
  • Scope of FATCA Reporting
  • Who is obliged to report and exemptions
  • Customer identification and classification process
  • Critical Categories of Customers and Counterparties
  • Financial Accounts in Scope for reporting and exemptions
  • FATCA Due Diligence Process (documentation, Evidence, Retention, Self Certification, aggregation, change of circumstances)
  • FATCA Registration Process
  • The Purpose of FATCA Policy and their general impacts
  • The purpose of FATCA Rulemap and their general impacts
  • What Income type needs to be reported
  • FATCA reporting scenarios
  • FATCA Verification of Compliance and Anti Avoidance
  • FATCA Reporting 
 
Best practices in working with and complying with FATCA 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 FATCA Reporting
  • Reconciliation 
  • Key Success factor for delivering FATCA 
 
FATCA implementation challenges:
  • Governance
  • IT infrastructure
  • Data aggregation 
  • Reporting practices
 
Comparison and planning for competing Reporting Regulations CDOT (UK FATCA) and CRS (AEI)
 
A multiple choice test will be perfomed at the end of the course to consolidate and check participants' knowledge. 
 
4.30 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. 

 

FATCA Compliance <p>With US FATCA legislation now published, the major focus is now on Reporting Solutions Considerations that are effective but not commercially onerous or operationally disruptive.&nbsp;</p> <p>A number of key drivers for success continue to impact the consistency and methods of how new accounts are opened, the Know Your Client (KYC) process, data management, income identification, financial acco ... 1507075200 London