Haydon Perryman, CGMA
FATCA Programme Manager

Special Guest: Haydon Perryman CGMA is an experienced FATCA Programme Manager, has mobilized three FATCA Programmes from scratch, including those of Lloyds Banking Group and the Investment Banking Arm of RBS. Haydon has been working on FATCA for four years. Haydon has a detailed understanding of the FATCA regulations and the practical strategies involved in ensuring an FFI meets the requirements of FATCA at an agreed level. Haydon has a wealth of industry contacts on FATCA in Banking, the Big Four and amongst Tax and Legal Advisors. Haydon's FATCA experience spans Investment Banking, Corporate Banking and Retail Banking.

"This a modern day "Doomsday" Book, the same as William the Conqueror Implemented in 1066 after conquering England. He needed to know where the wealth was so he could tax it"

"This is Not Really About Tax There are Easier Ways to Solve Tax Tracking - Its about a Common Reporting Standard. Its about the ability to track Capital"

"FATCA is a decoy for the Common Reporting Standard"

"There is an incredibly aggressive urgency of implementation - an unprecedentedly quick agreement between 57 governments"

Why?

Either to Tax it, Expropriation it or Control Its Free Movement

"Era of Banking Secrecy is Over!"

"A Complete Misunderstanding by Banks"

New Acronyms in The Era of Financial Repression

• FATCA - Foreign Accounts Tax Compliance Act
• GATCA - Global Account Tax Compliance "Acts"
• CRS - Common Reporting Standard
• IGAs - Inter Governmental Agreements on FATCA
• AEOI - OECD's Automatic Exchange of Information
• AML/KYC Procedures - The term "AML/KYC Procedures" means the customer due diligence procedures of a Reporting Financial Institution pursuant to the anti-money laundering or similar requirements to which such Reporting Financial Institution is subject.

The Road Ahead: FATCA, IGAS and The CRS

The costs of FATCA Compliance will be USD 1 to 2 trillion worldwide. The bulk of these costs will be incurred in the customer outreach required to obtain the required documentation.

There will also be considerable customer backlash to FATCA and the documentation it requires. In the age of social media this matters, if this sounds like hyperbole please have a look at this URL

At a most basic level FATCA, the IGAs and the CRS are about making tax part of standard KYC/AML procedures and then reporting, for tax purposes, to those jurisdictions, in which the account holder has tax residence or citizenship.

Everything you need to know about GATCA / FATCA: Download the 525 page report