The Common Reporting Standards - New Global Tax Information Exchange Regime Begins January 2016

November 11, 2015

The Common Reporting Standard (“CRS”) will impose new investor due diligence and reporting obligations on funds and other financial institutions based in “early adopter” participating jurisdictions, with effect from January 1, 2016. According to the OECD, all major financial centres have now signed up to the standard. Financial institutions should now be preparing for the commencement of CRS by ensuring that marketing and subscription materials are updated and that appropriate due diligence and reporting procedures are in place.

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