Deutsche Exec: Industry Must Collaborate On Fatca Front
The cross-industry collaboration driving the legal entity identifier (LEI) project must be repeated to ensure the US Foreign Account Tax Compliance Act (Fatca) is implemented effectively, says Julia Sutton, Deutsche Bank’s London-based head of customer data. Sutton also says firms that do not have automated client onboarding systems face serious problems when the anti-tax evasion regulations go live.
Sutton says preparations for the implementation of Fatca in January 2013 should be modeled on
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