Contributor: Doug Morgan

The Foreign Account Tax Compliance Act (FATCA) is expected to radically alter how asset managers conduct business on a global scale. With final regulations to be issued in July 2012, financial institutions must take immediate steps to prepare for this game-changing legislation or risk stiff fines. Not only does FATCA touch almost every asset management firm, but its changes will reverberate throughout all areas of a financial institution from compliance departments to IT to operations. FATCA is more than a tax issue. It is a global business issue and an enterprise-wide challenge.... read more