With a global presence and a group-level implementation plan for the new Foreign Account Tax Compliance Act (FATCA) regulations, CACEIS provides support for all aspects of your business, including any specific implementation rules that affect you.
Asset management falls squarely within the scope of FATCA and players are therefore obliged to fulfill the following three regulatory duties:
• Carry out comprehensive KYC procedures
• Manage withholdings systems
• Provide targeted reporting
The operational implementation of these obligations must be understood in terms of local application rules such as whether or not an intergovernmental agreement is in place and if so, what form it takes (e.g. Model 1 or Model 2)
Our service is flexible and modular, allowing us to provide you with support for all FATCA requirements across four principal areas:
• Legal documentation
• Analysis of the end-investor type
• Management of withholdings
• Production of required regulatory reports
In addition, our operational teams have received a high level of training on FATCA regulations, which affords you the comfort of knowing your business is serviced by staff with an in-depth understanding of the subject.
Also, all concerned entities of CACEIS Group have been registered either as Registered Deemed Compliant FFI-Model 1 Reporting FI or a Registered Deemed Compliant FFI under Model 2 (see opposite, the list of CACEIS Group's GIIN).
18 March 2010
Adoption of the FATCA regulation in the United States
5 February 2012
Signature of an agreement between the United States and 5 European countries (Germany, Spain, France, Italy, United Kingdom) to apply this regulation to their banking players.
1 January 2014
Entry into force of the FATCA regulation.
29 September 2014
Promulgation of the French transposition of the FATCA regulation.