Switzerland

Details

  • Service: Financial Services
  • Industry: Insurance, Investment Management, Banking
  • Type: Business and industry issue, Regulatory update
  • Date: 2/13/2012

Initial impressions of the FATCA proposed regulations 

The following paper provides an initial overview of certain provisions in the 389 page FATCA draft regulations (REG-121647-10) as well as a comment on the impact for banks, life insurances and collective investments vehicles.
cover image FATCA
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Other guidance included in the proposed regulations:

  • Government-to-government reporting
  • Expanded scope of "grandfathered obligations"
  • Transitional rules for affiliates with legal prohibition on compliance
  • Additional categories of deemed-compliance FFIs
  • Modification of due diligence procedures account identification
  • Guideance of required procedures to verify compliance
  • Extension of the transition period
 

Michael Schneebeli

Michael Schneebeli

Partner, Audit Financial Services

+41 58 249 41 06

Financial Services

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