The real cost of FATCA implementation

By: International Adviser

FATCA was implemented worldwide at the beginning of this month, but the impact (and costs) are only now just beginning to filter through to the financial services community. (…)
The UK Government estimates it will cost UK financial institutions up to £1.6bn to implement FATCA in this country, with ongoing costs of up to £90m per year. But, as far as wealth managers are concerned, this is more than just about spending money. (…)

Andy Thompson, director of operations at the Wealth Management Association, stresses that understanding the purpose of FATCA and what is required is difficult, particularly for small firms.

“While the registration process is relatively straightforward, the due diligence for all pre-existing accounts and every new account is a huge undertaking for any firm, big or small as is the amount of information that will have to be reported for relevant accounts,” he says.

If you want to learn more about FATCA attend a 1 day practical workshop in London which will help you to understand the requirements and implications. 

To read more go to: International Adviser


Eureka Financial offers over 100 public and in-house training courses in banking and finance, asset management, corporate finance and M&A, compliance, risk management,  investments, wealth management, soft skills and more. For more details visit:

Leave a Reply

Your email address will not be published.

We are using cookies on our website

Please confirm, if you accept our tracking cookies. You can also decline the tracking, so you can continue to visit our website without any data sent to third party services.