Fatca compliance at risk via third parties, expert warns

Questions on compliance within third parties need to be more focused

fatca-signs

Financial institutions are not asking specific enough questions of their third-party suppliers to ensure that they don't fall foul of the US anti-tax evasion law Fatca, one industry expert warns.

While banks, asset managers and the like have been busy ensuring they are compliant with Fatca within their own institutions, Jeff Trent, a New York-based partner at PwC, says such institutions have not necessarily given enough focus to whether their third-party suppliers are fully compliant.

"What we

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