The Wait Is Over

john-sproat-morganstanley

Asian markets had to take a wait-and-see approach as the definitions and specifics of US-promoted standards and regulations such as the legal entity identifier (LEI) and the Foreign Accounts Tax Compliance Act (Fatca) resolved themselves. Now, however, they will confront a rash of new requirements for doing business with Europe and the Americas.

“We’re a big global firm, and many of these are US regulations, drafted and managed by lawyers in the US, so we need to extract exactly what they mean,”

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