Byrnes and Perryman’s Analysis of the FATCA GIIN Lists June 2014 – February 2015 | Kluwer International Tax Blog

Byrnes and Perryman’s Analysis of the FATCA GIIN Lists June 2014 – February 2015 | Kluwer International Tax Blog

Since the publication of the U.S. Treasury’s original GIIN list 1 June 2014, HaydonPerryman (FATCA systems designer for several tier 1 financial institutions) and I (primary author, Lexis Guide to FATCA Compliance) have been analyzing on a monthly basis the list that the USA provides of “approved FFIs” (foreign financial institutions). On 1 February, the IRS published its second 2015 FATCA GIIN list of “approved FFIs” (a list of the financial firms that have registered on the IRS FATCA portal). Global FFI Registration has reached 153,797.

But from what countries are these registrations? Are these DCFFI registrations or PFFIs? Which countries are leading in the registration compliance and which are lagging? Has FFI registration growth by country and region been measured over the past eight months?

Wolters Kluwer has published our complete analysis on the International Tax Law blog.

What Did Greece Promise to Get the 4 Months Extension and Billions More?

all the official documents disclosed at International Financial Law Prof Blog

Politicians and Regulators Scrambling to Explain Lack of Action Against HSBC

The political row over the Swiss Leaks revelations is building in a number of countries, as HSBC faces committee investigations in the United Kingdom, and politicians in the United States weigh the nomination of a potential attorney general who previously investigated the bank.  read the full ICIJ story at International Financial Law Prof Blog

Will a New Fiduciary Standard Fix the Advisor-Client Conflict of Interests for Retirement Accounts?

read the all the conflicting opinions answering this question at International Financial Law Prof Blog

5 Hot Retirement Planning Topics for 2015

 Whether your client is concerned with maximizing tax-preferred account options, planning for increased longevity or using their retirement accounts as estate planning vehicles, the rules have changed for 2015. ... read about them at International Financial Law Prof Blog

Financial advisers count falls fifth straight year because no replacements for retirements. Why aren't replacements graduating?

JD Graduate Careers? financial advisers count falls fifth straight year because no replacements for retirements International Financial Law Prof Blog

There were roughly 285,000 financial advisers in 2014, a 1.9 percent drop from 2013, according to a report by the Boston-based research group Cerulli Associates. The industry has lost more than 39,000 advisers, roughly 12 percent, since its peak in 2008, when there were 325,000 advisers.

Nearly half of all financial advisers are over the age of 55. Over the next decade, Cerulli expects nearly 100,000 brokers will retire. read more at International Financial Law Prof Blog

Longevity Pegged Annuities - What CPAs Need to Know About the New Rules

http://viewer.zmags.com/publication/8df8c3b9#/8df8c3b9/66

Longevity Pegged Annuities - What CPAs Need to Know About the New Rules (William Byrnes & Robert Bloink)

The Treasury Department made sparks fly when it recently issued final regulations governing qualified longevity annuity contracts (QLAC).  

read the full story at CPA Journal of the New York Society of Certified Public Accountants 

February FATCA Updates: GIINs and IDES

Byrnes and Perryman analyze FFI registrations and the IRS' IDES updates on International Financial Law Prof Blog

PwC's Report on the Green Book - Obama FY 2016 Budget proposes minimum tax on foreign income and PwC's analysis of other significant international tax proposals

Treasury's 'Green Book,' released February 2, 2015, outlines the Administration's FY16 Budget proposals.  It explains a new proposal for a 19% minimum tax on foreign income and a one-time 14% transition tax on previously untaxed foreign income.  It also significantly changes some international tax proposals made in previous Budgets. The Budget reaffirms President Obama's support for 'business tax reform' that would lower the top US corporate rate to 28% (25% for domestic manufacturing income).  

read it on International Financial Law Prof Blog

Islamic Banking: Some Distinguishing Regulatory Considerations

This focus of this paper is the regulation of one segment of modern Islamic finance: Islamic banking, whether conducted by stand-alone Islamic banks or “Islamic windows” within conventional interest-based banks. Consideration is given to a select group of illustrative issues that arise in connection with the regulation of Islamic banks. 



see International Financial Law Prof Blog

Is Greece a "Dead Man Walking" or the Phoenix Moments Before Rebirth?

read the analysis at International Financial Law Prof Blog

Banking giant HSBC sheltered murky cash linked to dictators and arms dealers

Secret documents reveal that global banking giant HSBC profited from doing business with arms dealers who channeled mortar bombs to child soldiers in Africa, bag men for Third World dictators, traffickers in blood diamonds and other international outlaws. 

read the story at International Financial Law Prof Blog

The Financial Industry Regulatory Authority: Not Self-Regulation after All

Broker-dealers in the United States are regulated by the Financial Industry Regulatory Authority (FINRA). Although commonly perceived to be a self-regulator, FINRA is not accountable to the industry in the way a self-regulator would be. Nor is it accountable to the public, Congress, the president, or the courts. FINRA’s structure and monopoly status shield it from close oversight. 



http://lawprofessors.typepad.com/intfinlaw/2015/02/the-financial-industry-regulatory-authority-not-self-regulation-after-all.html