Posts by Anthony Quinn
Founding residents of Stone & Chalk revealed
NSW Minister for Industry, Resources and Energy Anthony Roberts officially opened the not-for-profit fintech hub this evening. The initial start-up line-up spans a wide range of industries, from superannuation to predictive data analytics, as well as technologies, from consumer apps to crypto currencies, according to Stone & Chalk. The companies are also at “varying degrees…
Read MoreStone and Chalk opens with hopes to accelerate fintech growth in Australia
Stone and Chalk, a new fintech hub that promises to help accelerate the development of Australian fintech startups, was unveiled in Sydney on Tuesday. The independent not-for-profit will be located on level 26, 45 Clarence Street in the Sydney business district. It will include 1230 square metres of office space with the potential to grow…
Read MoreFATCA: The final regulations have landed – let the games begin
In January 2013, the United States Treasury Department released the final regulations relating to the U.S. Foreign Account Tax Compliance Act (FATCA) on the Federal Register. The final regulations came almost 12 months after the proposed regulations were first issued for consultation.The final regulations cover 544 pages, the majority of which comprises sections 1471 to…
Read MoreFATCA: Commencement date delay announced
On 24 October 2012, the Internal Revenue Service (IRS) released Announcement 2012-42 Timelines for Due Diligence and Other Requirements Under FATCA, which delays certain deadlines under the Foreign Account Tax Compliance Act (FATCA).In essence, the announcement provides new timelines for Foreign Financial Institutions (FFIs) and United States Financial Institutions (USFIs) to complete due diligence and…
Read MoreFATCA: Spotlight on the model IGA
In February 2012, when the US Treasury Department issued the proposed Foreign Account Tax Compliance Act (FATCA) regulations, it was accompanied by a joint statement by five European countries that announced their intention to become FATCA Partner countries by signing a memorandum of understanding (MOU) with the US Treasury Department.In late June 2012, Switzerland and…
Read MoreFATCA round-up
This article provides an update on the Foreign Account Tax Compliance Act (FATCA) as at October 2013. www.financialcrimesconsulting.com. Click here to view the original full article.
Read MoreFATCA: IRS announce extension to implementation dates
The Foreign Account Tax Compliance Act (FATCA) requires financial institutions to use enhanced due diligence procedures to identify US persons who have invested in either non-US financial accounts or non-US entities. The intent behind FATCA is to keep US taxpayers from hiding income and assets overseas.Most FATCA provisions were expected to take effect in the…
Read MoreEmerging technology and its impact on GRC
Click here to view the original full webinar slides.
Read MoreFATCA: The saga continues (part II)
Over the past few months, there has been a flurry of FATCA activity – including more than 110 submissions to the US Treasury Department from concerned industry groups, financial institutions, individuals and other lobby groups. This culminated in a one-day public hearing held in Washington on 15 May.The IRS has also released further guidance on…
Read MoreFATCA: The saga continues (part I)
Since the proposed FATCA regulations were issued on 8 February 2012, there have been quite a few people burning the midnight oil to digest and understand the draft regulations so that a formal response could be submitted to the US Treasury by the 30 April 2012 deadline.The next stage in the process was a public…
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