Carraghyn - Chartered Directors

What Does FATCA Mean for Data and IT?

FATCA (foreign account tax compliance act) is a US law that comes into effect on 1st January 2013. It affects all financial institutions worldwide which manage US investments or have US citizens as clients; for the purposes of FATCA non-US financial institutions are Foreign Financial Institutions (FFIs). FATCA permits the US to apply 30% witholding tax on any payments by US institutions to FFIs who do not cooperate with FATCA, either through non-participation or non-compliance - in short it is in the interests of almost all financial institutions worldwide to register for FACTA participation.

FATCA has enormous legal and technical implications for the data handling processes and IT systems in financial institutions.

Read more: What Does FATCA Mean for Data and IT?

The Isle of Man LinkedIn Group

The Isle of Man LinkedIn Group was created in July 2008 by Steve Burrows. 

The group is only open to people who are living and working in, or doing business with, the island. Despite, or perhaps because of this restriction, the group has become the largest LinkedIn group focused on the Isle of Man with close to double the membership of its nearest rivals. 

Read more: The Isle of Man LinkedIn Group

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