The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Northern Trust Helps Clients Navigate the Foreign Account Tax Compliance Act (FATCA)

As part of its commitment to helping institutional clients manage the evolving regulatory landscape, Northern Trust hosted a webinar on 9 August 2011 that explored the impact of the Foreign Account Tax Compliance Act (FATCA) on fund managers. The webinar included an overview of FATCA, implications for fund managers globally and information on how Northern Trust can assist clients with the regulatory requirements.

The webinar panelists, Kathy Dugan, product manager at Northern Trust, and Lorraine White, tax specialist at Northern Trust, provided insight on FATCA’s objectives, the current compliance schedule, a custodian’s responsibilities and a fund manager’s responsibilities. In addition, the panelists discussed Northern Trust’s role in assisting clients with FATCA’s due diligence, withholding and reporting requirements. More than 150 participants registered for the webinar.

“FATCA has far reaching implications for our clients,” said Kathy Dugan. “It is a top regulatory concern, especially for clients located outside the U.S.. We are focused on providing tools and insights to our clients that will make it easier for them to find practical solutions to deal with the complexities brought about by this legislation.”

“In addition to these efforts, Northern Trust is actively engaged in European and U.S. industry working groups that are part of the FATCA rulemaking process,” added Dugan.

In addition to the webinar, Northern Trust is actively working to help clients stay ahead of changes brought about by FATCA legislation:

  • In June 2011, Northern Trust held workshops in their London offices for EMEA Global Fund Services clients. The events, which were well attended, explored the latest developments in FATCA rulemaking and the potential impact of the regulation for clients.
  • A FATCA Insights on Regulation document was created by Northern Trust to provide an overview of FATCA and address frequently asked questions.
  • An “Insights on Regulation” page went live on 18 July on Northern Trust’s institutional client web portal, Passport, and currently spotlights FATCA. The Passport page is designed to help global clients address the practicalities of the new legislative landscape. It provides regulatory insight from Northern Trust experts to help clients distill the information applicable to their business and maximise the opportunities that regulatory change offers.

A complete replay of the webinar is available on Northern Trust’s website.

Related content

WEBINAR

Upcoming Webinar: FINRA CAT CAIS: What to Expect – Giving Regulators Full Access to Your Customer & Account Data

Date: 3 November 2021 Time: 11:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Join n-Tier and a panel of industry experts to discuss implications of the SEC’s Consolidated Audit Trail (CAT) Customer & Account Information System (CAIS) Phase 2e. The initial phase of CAIS was the start of a new era for...

BLOG

Tableau Supports Capital Markets Participants’ Priorities, Adds Business Science

Tableau, a provider of business intelligence and analytics software, is working with capital markets participants to achieve priorities of driving customer growth, ensuring regulatory compliance, using data analytics for business insight, and identifying operational efficiencies. Most recently, it has added business science to its capabilities, democratising data science and providing business users and analysts with...

EVENT

Virtual Briefing: ESG Data Management – A Strategic Imperative

This briefing will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

ESG Handbook 2021

A-Team Group’s ESG Handbook 2021 is a ‘must read’ for all capital markets participants, data vendors and solutions providers involved in Environmental, Social and Governance (ESG) investing and product development. It includes extensive coverage of all elements of ESG, from an initial definition and why ESG is important, to existing and emerging regulations, data challenges...