Global

Details

  • Industry: Financial Services, Investment Management
  • Type: White paper
  • Date: 10/3/2011

FATCA and the implications for European Hedge Funds 

As a recent KPMG report discovered, the investment management industry faces an uphill struggle to be ready for commencement of the US Foreign Account Tax Compliance Act (FATCA) on 1 January 2013. The report’s findings reveal that just 32% of the fund managers surveyed expect to be ready for the January 2013 live date, and 42% have not yet even assessed the time needed to comply.
Fortunately for hedge funds, FATCA is unlikely to fundamentally challenge firms’ business models in the same way it will in other sectors of the investment management industry. Nevertheless, compliance will be necessary and it will require a significant amount of work.
 

Share this

Share this

Get in touch with KPMG