Northern Trust has 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 panellists, 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 panellists 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 US. 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 US industry working groups that are part of the FATCA rulemaking process.”
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