Increasing compliance costs are keeping Asian wealth managers up at night, according to a PwC survey. Wealthy women are also an important demographic to keep an eye on.
Tag : fatca
Asset managers appear resigned to the drive by governments globally to collaborate on information exchange and withholding requirements for combating tax evasion, says JP Morgan.
Compliance officers at financial institutions outline how the cost of complying with a raft of regulatory reforms is dampening innovation and making it difficult to stay competitive.
Smaller hedge fund managers will face relatively lower costs related to Fatca, although overhead increases will be insidious.
Some are waiving fees to prevent negative yields for investors and that’s hitting top-line growth, even as regulatory changes support their business models, reflects Northern Trust.
A rising tide of regulation is driving demand for in-house expertise, with more insider-trading cases tipped in Japan, for instance, as a result of expected rule tightening.
In a letter to AsianInvestor, Jim Jatras in Washington, DC explains how Fatca is perceived in the US, and how the proposed law can be influenced.
The law as it stands will impact Asia-based mutual funds in unforeseen ways, warns trade body ICI Global.
Never have mutual-fund industry associations around Asia come together for a common cause, until Fatca.
Hong Kong financial industry associations argue that the US Internal Revenue Service should amend Fatca or risk damaging the industry in unexpected ways.
Local distributors and fund managers are ignoring the cost impact, and some say the new legislation will make foreign financial institutions de-facto tax enforcement agents of the IRS.
Market operator Multifonds sees no prospect of Ucits falling out of favour in Asia, unless Europe imposes a financial transaction tax.
