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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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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