The Foreign Account Tax Compliance Act (FATCA) is a regulation enacted by the U.S. federal government to stem tax evasion by US citizens and residents using offshore accounts. Under FATCA, the government will obtain information to foster more transparency into offshore accounts. FATCA is projected to raise $7.6 billion in revenues over the next decade.
Back-Office
Transforming Uncertainty into Opportunity
Guest Contributor: Dan Retzer, Managing Director and Chief Technology Officer, XSP That coexistence between the ISO 15022 and 20022 messaging standards presents challenges to the producers and consumers of financial data is without question. These challenges, however, also yield opportunities for solutions providers, vendors and consultants that possess demonstrated expertise in both standards. This juxtaposition
Hedge Funds
“What Is” The JOBS Act?
The Jumpstart Our Business Startups (JOBS) Act, signed into law by President Obama on April 2012, is intended to encourage the growth of small businesses and start-ups by helping with funding and easing federal regulations in order to increase the national employment rate. A fundamental provision of the JOBS Act is the creation of an
Financial Technologies Forum (FTF)
Top 10 Wall Street Halloween Costumes for 2012
If you are struggling for a Halloween costume this year, hopefully one of our Wall Street themed ideas will inspire you: The 1 % – Wear a suit, attach some fake $100 bills and add lots of bling, buy a Lexus and laugh at middle-class people. The 47%—Paper your body with Medicare bills, Welfare cheese
Back-Office
6 Keys to Reconciliation: What Asset Management Operations Really Need to Know [Complimentary Whitepaper]
![6 Keys to Reconciliation: What Asset Management Operations Really Need to Know [Complimentary Whitepaper]](https://www.ftfnews.com/wp-content/uploads/2012/10/recs-whitepaper-150x150.jpg)
“>Download Whitepaper Now Complimentary Whitepaper Reconciliation Best Practice What Asset Management Operations Really Need to Know. Featuring expert insights on the six key functional areas critical to reconciliation. By Duncan Wheatley, Managing Director of Watson Wheatley Financial Systems. The reconciliation system occupies a unique and privileged position in the asset manager’s middle and back office
Dodd-Frank
A LEI not from Hawaii
Guest Contributors: Nigel Jenkinson and Irina S. Leonova, Financial Stability Board The recently published FSB report entitled ‘A Global Legal Entity Identifier (LEI) for Financial Markets’ started with an introduction: “There is widespread agreement among the public authorities and financial industry participants on the merits of establishing a uniform global system for legal entity identification.
What is series
“What Is” Social Media Compliance?
Social Media Compliance refers to conformance with regulations governing investors’ safety when securities firms are using social media websites such as Facebook, LinkedIn and Twitter to publicize their services and offerings. The new rules for social media and financial services firms mainly ensure that employees are not exposing information that could put a firm at
Back-Office
Reconciliation Vendors Say Cheeeeese
This week, FTF held its 7th Annual Reconciliations & Exception Management Conference in New York City. The event was a great success with over 100 attendees and 10 sponsors. Take a look through some of the great companies that participated: Thanks again to our sponsors, speakers and delegates. We look forward to seeing everyone next
Guest Blog
Capital Markets and Expensive Errors
Guest Contributor: Joseph DiNardo, Senior Product Manager, Bonaire Software Many capital markets firms have been asking themselves the following: “How confident is my expense management team in the accuracy and validation of trade expense costs when paying vendor invoices?” – or – “Have we compared trade execution fees across vendors for optimal pricing?” These questions stem
What is series
“What Is” FACTA?
The Fair and Accurate Credit Transactions Act (FACTA) was established in order to protect consumers from identity theft by increasing accuracy, privacy and information sharing. FACTA was passed by the U.S. Congress as an amendment to the Fair Credit Reporting Act (FCRA) on November 22, 2003. A major reform, FACTA applies to every individual or
