Panama papers highlight the urgency: From FATCA to the OECD CRS

Meredith Moss

Journal of Securities Operations & Custody, 2016, vol. 8, issue 3, 248-258

Abstract: Global tax reporting and filing regulation has now expanded to the OECD CRS. The CRS covers 90 jurisdictions (with implementation nuances specific to each). The resources required to comply — in knowledge, labour, and time — place additional burdens on already stretched operations groups in fund firms and for their administrators. Appropriate analysis of new operational requirements may lead firms to consider the appropriate use of technology platforms, solely focused on meeting mandates through logic that incorporates rule complexity and these rapidly changing regulatory reporting requirements. Such an approach eases the regulatory burdens while simultaneously transforming investor services for multiple purposes — in capital processing, auditing, and data normalization. The result is cost and risk reduction.

Keywords: CRS; FATCA; AML; KYC; OECD; investors; compliance (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jsoc00:y:2016:v:8:i:3:p:248-258

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