China

Financial Services 

The Financial Services (FS) practice is co-ordinated formally on an international basis to ensure cohesion, consistency and an ability to deliver quality professional services, wherever our clients operate.

Partner in charge,
Financial Services

Simon Gleave

Simon Gleave

Partner

+86 (10) 8508 5000

Heads of sector practices

 

 

Paul McSheaffrey

Head of Banking (Hong Kong)

 

Arthur Wang

Head of Banking (China)

 
 

Simon Donowho

Head of Insurance (Hong Kong)

 

Walkman Lee

Head of Insurance (China)

 
 

Rupert Chamberlain

Head of Investment Management (Hong Kong)

 

Lewis Lu

Head of Investment Management (China)

 
 

Gary Mellody

Head of Capital Markets (Hong Kong)

 

Ivan Li

Head of Capital Markets (China)

 

Companies competing in today's integrated financial services markets have experienced unprecedented change. Banks, insurance and securities companies are having to respond at an even greater pace to:

 

demanding capital adequacy and risk management standards
corporate governance and increasing monitoring of internal financial reporting
increasingly sophisticated clients
global expansion by major national and regional financial institutions

consolidation, merger and acquisitions

new technologies and distribution channels
issues in dealing with new markets, economic uncertainty and changing relations.

 

KPMG member firms work closely with client around the world to help them develop appropriate strategies, manage the business and technology risks, and put in place the necessary implementation programmes in a timely and effective way.

 

KPMG's approach is based on understanding the issues affecting the marketplace. We work closely with a number of leading industry organisations providing support in understanding and tackling some of the major issues facing the industry. We are also active in the sponsorship of industrywide research and events.

 

 

Financial Services issues

Get in touch with KPMG China

 


 

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Service brochure

TaxNewsFlash

Since the enactment of the Foreign Account Tax Compliance Act (FATCA) in March 2010, the IRS issued several rounds of preliminary guidance prior to the release of proposed regulations on February 8, 2012. KPMG has prepared an analysis that examines these provisions.

 

The Treasury Department and IRS released for publication in the Federal Register proposed regulations (REG-121647-10) as guidance concerning information reporting by foreign financial institutions for U.S. accounts.

 

The IRS released an advance copy of Notice 2011-53 which provides a timeline for the implementation of information reporting and withholding provisions under chapter 4 of the Code (referred to as "FATCA").