Soc Gen Exec: "Fatca Is Having Considerable Impact On KYC And Reference Data"
The Foreign Account Tax Compliance Act (Fatca) is having a "considerable" impact on financial services firms that have to establish a centralized view of their customers and change all their databases, speakers have told delegates at this week's European Financial Information Summit (EFIS) in London.
The American regulation, which will be rolled out from next year, is intended to combat tax evasion by US citizens with offshore accounts. It requires non-US financial institutions to search their
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