New regulations and tax rules remain front and centre

September 2014

Welcome to the autumn/fall edition of Citco Industry Spotlight in which we cover the usual topical matters facing our industry.

Despite the industry’s best efforts to get back to business by providing returns on investment, we still haven’t been able to shake off the “what happens next” scenario in the regulatory and tax space. Most recently, AIFMD and FATCA have gone live, and we highlight both in this publication.

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AIFMD goes live

September 2014

After several years of preparation, from 22 July 2014 any alternative manager marketing into the European Economic Area (EEA) needs to comply with EEA member state approval/notification requirements under the AIFMD and, in the case of an EEA manager, also be authorized by it’s home state regulator as an AIFM. Citco has implemented its service offerings designed to help clients to comply with the directive, as previously communicated in various client forums and updates.

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FATCA running

September 2014

Guidance still being updated

The 1 July 2014 effective date for the implementation of FATCA has passed and Citco has been busy implementing our compliance solution.

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