Industry split over draft Fatca regulations

Stephen Fiamma at Allen & Overy

A draft of the US Foreign Account Tax Compliance Act (Fatca) released yesterday is dividing opinion in the industry, with some observers arguing the long-awaited rules do not provide enough clarity on key compliance issues. 

"They've listened to some degree, but there are still a lot of problems. They haven't addressed many of the issues that concern the capital markets and securitisation area," says Stephen Fiamma, a US tax partner at law firm Allen & Overy, based in London.

Fiamma singles out

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