PLAY RECORDING

Overview:

The introduction of the Foreign Account Tax Compliance Act (FATCA) by the U.S. and Common Reporting Standard (CRS) by the Organisation for Economic Co-operation and Development (OECD) had significantly affected the compliance process of financial institutions around the globe. With the various FATCA/CRS reporting challenges that continue to hound these organizations, coupled with the COVID-19 disruption, it has been a struggle to remain compliant.

A streamlined process geared towards effective data management and data quality improvement can substantially ease the compliance burden on the financial services industry. By employing the right solution, financial institutions can meet their FATCA and CRS requirements seamlessly, even in a constantly changing regulatory climate.

In this LIVE Webcast, a panel of distinguished professionals and thought leaders will help financial institutions in EU and the Asia Pacific region, understand the implications of FATCA and CRS on their compliance process. Speakers will provide an in-depth discussion of how organizations can comply with the requirements given the current and emerging challenges. The panel will also offer the best practices in selecting and implementing an effective FATCA/CRS compliance solution.

Key topics include:

  • FATCA and CRS Reporting – Differences and Common Areas
  • FATCA/CRS Implications on Financial Institutions
  • Top Compliance Challenges and how FIs should prepare for long term compliance
  • Data-Driven Technology tackling FATCA/CRS regimes
  • Essentials of an Effective FATCA/CRS Solution to address multiple jurisdictions’ requirements
  • Mapping disparate source data from across silos while meeting FATCA classification specifications.
  • Best Practices in better managing FATCA/CRS reporting

Learning Objectives:

  • Identify the components of a sustainable FATCA/CRS compliance model
  • Determine the challenges in achieving CRS compliance
  • Recognize solutions to FATCA/CRS compliance challenges

Credit:

Course Level:

Intermediate

 

Advance Preparation:

Print and review course materials

 

Method of Presentation:

On-demand Webcast (CLE); Group-Internet Based

 

Prerequisite:

General knowledge of tax laws

 

Course Code:

149109

 

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 credits)


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 Tan, Global Tax Product Manager
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 FATCA and 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.

Denise Lim, Partner
PwC Singapore

Denise is a partner with the PwC Singapore Firm working in the Financial Services Industry practice. She has over 15 years of working experience with financial services clients with specific skills in advisory, assurance and audit related services particularly in business processes, internal controls, and providing advice relating to regulatory and compliance requirements. She is PwC Singapore’s Financial Crime leader as well as CRS and FATCA process implementation leader, advising clients on the end to end process for CRS/FATCA compliance.

Denise actively speaks at industry forums on AML/CTF as well as tax evasion related topics and is an active participant in industry working groups. She has worked in Australia and Japan and regularly leads large teams involving multiple international locations globally and within Asia.

Jenny Corbett, Head of FSCS, FATCA and CRS Control
Lloyds Banking Group

Jenny trained as a Chartered Accountant with Price Waterhouse and moved into their tax department on qualification. Moving to work for HBOS soon afterwards she has been in the financial services sector ever since.  Her experience covers corporation tax, employee and operational taxes.  Initially working as a corporation tax advisor looking at joint ventures, acquisitions and disposals, she then moved into tax reporting and managed the corporation tax compliance function for Lloyds Banking Group.

Jenny became involved in organisational change, designing of process and controls and implementing tax risk frameworks following the mergers and acquisitions by the Group.

In 2013 a move to operational taxes resulted in her chairing the Operational Tax Working Party at the BBA, working with HMT and HMRC to implement the withdrawal of TDSI, and implementing Help to buy ISA and personal savings allowance.

Jenny moved into Operations in 2018 to head up the FATCA and CRS Central team extracting the report from Big Data and is now concentrating on the use of Machine Learning to improve data quality.

Agenda:

SEGMENT 1:

Jenny Corbett, Head of FSCS, FATCA and CRS Control

Lloyds Banking Group

  • How does LBG run its FATCA/CRS operations
  • Current challenges from the tax authorities
  • What’s next to improve data quality

 

 

SEGMENT 2:

Denise Lim, Partner

PwC Singapore

  • Overview of the CRS compliance guidelines regime in Singapore
  • Common findings/challenges in the industry in achieving CRS compliance

 

 

SEGMENT 3:

Guo Jian Tan, Global Tax Product Manager

AxiomSL

  • Essentials of an Effective end-to-end FATCA/CRS Solution
  • Navigating the demand on regulatory updates
  • Refiling process - Correction/voiding of initial data (voluntary or non-voluntary)

Date & Time:

Tuesday, May 12, 2020

10:00 am to 11:00 am (ET)

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
ImageNameCategory

SPEAKERS

Guo Jian TanGlobal Tax Product Manager
AxiomSL
Denise LimPartner
PwC Singapore
Jenny CorbettHead of FSCS, FATCA and CRS Control
Lloyds Banking Group

RELATED WEBCASTS

SUBSCRIPTION PACKAGES

ALL-ACCESS PASS

View Details

CLE LAW MONTHLY

View Details

CPE FINANCE MONTHLY

View Details

Join Over 150,000 Professionals Empowering Their Careers

Learn anywhere from over 1800+ live and recorded CLE CPE & Technology webcasts.