Fenergo and BMO Continue Compliance Partnership
In June, BMO chose Fenergo to manage its compliance with the US's Foreign Account Tax Compliance Act (Fatca). Marc Murphy, Fenergo's Dublin-based CEO, says that the firms successfully implemented phase one, which went live on July 1 ─ the day that Fatca came into force. This involved implementing the workflows and rules for all new client requests, and phase two will extend that to comply with regulations such as the Dodd-Frank Act, the European Market Infrastructure Regulation and the Markets
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