About the Webinar
Learn More SDS and their CRS Reporting Platform
In July 2014, the Organisation for Economic Cooperation and Development (OECD) published the Common Reporting Standard (CRS) as a global standard to facilitate the automatic exchange of information on financial accounts (AEOI) between OECD tax jurisdictions on an annual basis. Modeled after FATCA, CRS exceeds in its complexity of current FATCA requirements due to its multilateral nature. Today, there are about 100 countries committed to CRS, with the majority of financial institutions preparing to spend up to $1m on FATCA and CRS compliance this year alone.
CRS is unfolding with extraordinary speed and as the challenges compound, financial institutions will also face a growing number of clients who are subject to reporting. From keeping up with government regulations in multiple countries to sourcing necessary reportable information, from managing internal resources to reporting the data accurately and in a timely manner, it's no wonder why more than 50% of senior executives from multinational firms are concerned that non-compliance of mandates could affect the reputations of their institutions.
In response to this we hosted a 60 minute webinar discussion with CRS/FATCA experts from RBS and SDS to get further insight into where the market is and how FI's can prepare for reporting tasks that lie ahead. Get valuable insights on:
Managing the complexities of CRS from a leading Global Bank
Responding to large amounts of data, different regimes and local requirements
Dealing with correction reports
Central governance of group-wide automated reporting processes
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