PLAY RECORDING

Overview:

Critical and emerging issues surrounding Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) continue to affect global financial institutions. More and more businesses are becoming vulnerable to financial risks and disputes because of the stiffer compliance requirements as well as the complexities brought by the COVID-19.

It is, therefore, important that practitioners keep abreast of the latest trends and developments in FATCA and CRS reporting. Revisiting their compliance programs and employing the right CRS solutions are vital to strengthen their compliance practices.

In this LIVE Webcast, a panel of thought leaders and distinguished professionals will help financial institutions plan their way through CRS compliance. Speakers will also provide an in-depth discussion of the best practices and strategies in selecting an effective CRS compliance solution.

Key topics include:

  • FATCA and CRS Reporting – Regulatory Trends and Developments
  • Managing Compliance Risks and Challenges
  • Exploring Effective CRS Solutions
  • Best Compliance Practices
  • A Look Ahead

Learning Objectives:

  • Identify the complexities of classifying entities and how to manage FATCA and CRS changes
  • Determine the common CRS compliance and implementation challenges in Nigeria
  • Recognize the benefits of third-party FATCA/CRS reporting and automated end-to-end solutions

Credit:

Course Level:

Intermediate

 

Advance Preparation:

Print and review course materials

 

Method of Presentation:

On-Demand Webcast; Group-Internet Based

 

Prerequisite:

General knowledge of tax laws

 

Course Code:

149510

 

NY Category of CLE Credit:

Areas of Professional Practice

 

NASBA Field of Study:

Taxes – Technical

 

Total Credit:

1.0 CLE

1.0 CPE (Not eligible for QAS (On-demand) CPE credit)


How to Claim CLE Credits Per State:

https://knowledgewebcasts.com/how-to-claim-cle-credits-per-state/


CLE State Requirements:

https://knowledgewebcasts.com/cle-state-requirements/

Speaker Panel:

Guo Jian, Tax Product Manager (Global)
AxiomSL

Guo Jian leads AxiomSL’s Global Tax product team. He focuses on AML (KYC) and risk management and is a subject-matter expert in global regulatory tax reporting regimes including Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS). Since the introduction of FATCA in Singapore in 2014, Guo Jian has been actively involved in its evolution from both functional and technical perspectives, and works extensively with clients globally on their FATCA and CRS compliance programs.
Guo Jian’s more than 11 years’ experience in the banking and financial sectors include previous positions with UOB, CLSA and BNP Paribas.

Pranay Rathi, Project Director
ANZ

Pranay Rathi is a Project Director with the Customer Tax Transparency (CTT) area at ANZ, his  responsibilities broadly covers all Foreign Accounts Tax Compliance Act (FATCA) & Common Reporting Standard (CRS) obligations across ANZ global footprint. Pranay has been an integral part of building the CTT area from the ground up and has ultimate accountability for all Due Diligence obligations related to FATCA & CRS.
Prior to this, he was responsible for the Governance and delivery of over 100 applications through Strategic Technology Outsourcing. Pranay who has over 15 years’ experience in Large Scale Delivery programs is a cycling and fitness enthusiast and is constantly looking to do things more efficient, whilst reducing risk and improving the end to end environment for ANZ.

Nike James, Tax Partner
KPMG

Nike is a partner and head of the Financial Services Industry, Tax, Regulatory & People Services (TRPS), at KPMG in Nigeria. She has over 20 years of professional experience providing value add results to clients with industry leading practices. Nike is responsible for leading efforts in the area of OCED’s Common Reporting Standard (CRS) and the United States’ Foreign Account Tax Compliance Act (FATCA) in Nigeria. Her expertise covers tax & regulatory advisory and compliance services to multinational and local clients in the financial services industry value-chain.

Nike is a market leader on CRS in Nigeria, she works with the tax authorities in providing insight and effective strategy aimed at improving CRS compliance processes in Nigeria. She was very instrumental in enlightening relevant Associations within the financial services sector, such as the Mortgage Banking Association of Nigeria (MBAN), National Association of Microfinance Banks (NAMB) and Fund Managers Association of Nigeria (FMAN), on CRS and its implementation in Nigeria. This has improved the general awareness of CRS in the FSI space and improved compliance considerably.

She leads her team to assist various clients, in the banking and insurance industries, as well as the Capital Market Operators, to comply with the CRS requirements, by providing due diligence advisory and compliance services, including overall management of CRS risks, with an overall objective of process improvement.

Agenda:

Segment 1:

Pranay Rathi, Project Director

ANZ

  • Unpacking Classification – outlining the complexities and difficulties of Classification, its impact on compliance and an approach to improve it within your organization
  • Navigating Change – understanding the importance of managing change within the FATCA and CRS context, as well as considerations for effective management

Segment 2:

Nike James, Tax Partner

KPMG

  • CRS implementation in Nigeria - highlights of the Income Tax (Common Reporting Standard) Regulations, 2019
  • Implementation/ compliance challenges with the first filing of CRS returns in Nigeria in 2020 – from the tax authorities and reporting financial institutions’ (FIs) viewpoints
  • The need to update to the CRS Regulations in Nigeria to the address current and potential issues

Segment 3:

Guo Jian, Tax Product Manager (Global)

AxiomSL

  1. Data quality – The challenges behind multiple upstream systems, missing data points and the introduction of new TIN codes by IRS.
  2. Automating an end-to-end process – The impact of a flexible schema allowing regulators globally to interpret and adopt jurisdiction-specific requirements.
  3. 3rd party reporting – A rising trend in supporting the reporting of funds under the likes of an investment management business model.

Date & Time:

Wednesday, June 9, 2021 from 5:00 pm to 6:00 pm SG time/9:00 am to 10:00 am London time

Materials:

Download Course Materials

Who Should Attend:

  • Institutional Investors
  • Investment Managers and Directors
  • Hedge Fund Stakeholders
  • Tax Professionals
  • Auditing and Accounting Professionals
  • Compliance Officers
  • Risk Management Professionals
  • In-House Counsel
  • Chief Financial Officers
  • C-Level Executives
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SPONSOR

SPEAKERS

Guo JianTax Product Manager (Global)
AxiomSL
Pranay RathiProject Director
ANZ
Nike JamesTax Partner
KPMG

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