资源描述:
《FATCA-the-funds-industry-O-201106》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、FATCASurveyFATCAandReportthefundsindustry:May2011kpmg.comDefiningthepathJune2011kpmg.comForewordForfinancialintermediariesworldwide,theUSForeignAccountTaxComplianceAct(FATCA)representsamajorchallenge.ThescopeofFATCAissignificantlybroaderthanthatofthecurrentqualifi
2、edintermediary(QI)regime,anditsrequirementscannotbemetwiththeprocessesandsystemsthatcurrentlyprevailwithinthefundindustry.Thereisalsosignificanttimepressure,sincetherequirementsmustbeimplementedbythestartof2013.InordertocomplywiththeFATCArules,fundoperatorsThemajo
3、rityofrespondentshadassetsundermanagementmustfundamentallychangetheiroperatingmodels,inexcessof€10billion,andmorethanhalfoftherespondentsfromtheidentificationanddocumentationofcustomers,distributedtheirshares/unitsinmorethan10countries.throughtheproductportfolio,t
4、ointernalprocessesWhatwefoundwasthat–inlightofthetidalwaveofandITsystems.Onoccasion,thesechangeswillnodoubtregulatoryinitiativesfacingtheindustry–fundamentalbeprofoundinnature.changesinbothbusinessmodelsandoperatingmodelsCompliancewillbeamajorconcernforfundpromote
5、rs.maybeunavoidable.ForsomeplayerstheprimarystrategyInviewoftheleanmanagementstructureintoday’swillbetoseekcostefficientsolutions;forothers,mitigatingindustry,compliancewillonlybepossiblewiththeriskwillbeofprimeimportance;stillotherswillfocusonthecooperationofothe
6、rserviceprovidersaroundthesearchfornewbusiness.Forallthreecategoriesofinvestmentmanagementspace.companies,realconcernswillneedtobeaddressed.Wehopetohelparticulatethem.Givenourstrongcommitmenttoinvestmentmanagement,KPMGrecognizedatanearlystagethesignificantimpactof
7、FATCAonthefundsindustry.Inordertocontributetothedebateandprovidevaluablebenchmarkstotheindustry,KPMGsurveyedleadingfundpromotersin12countries.GeorgesBockWm.DavidSeymourGlobalChairmanKPMGGlobalSectorHead,FundsTaxNetworkInvestmentManagementKPMGintheUS©2011KPMGIntern
8、ationalCooperative(“KPMGInternational”),aSwissentity.MemberfirmsoftheKPMGnetworkofindependentfirmsareaffiliatedwithKPMGInternational.KPMGInternationalpr