ISITC Europe, the industry group dedicated to improving the operational efficiency of the global financial industry, is pleased to announce the launch of its latest working group, covering the operational impact of the US’ FATCA legislation on European financial institutions.
Building on its historically close ties to its US sister body, ISITC US, ISITC Europe is honing in on an area of particular concern for industry, against a background of a widespread wave of regulatory reform across the US, Europe, and elsewhere.
Graeme Austin, ISITC Europe CEO, says: “We are proud to be the forum for operational professionals to come together to share their experiences of managing the FATCA rules. We hope this FATCA Working Group will enable asset management firms to streamline their processing of FATCA-related information and help them devise the most efficient way for them to communicate with, and obtain data from, their end clients.”
ISITC Europe speaks for the whole industry, including broker/dealers, custodians, investment managers as well as vendors and utilities. Its mission is to develop standards and market practices that will enhance efficiency across the transaction lifecycle.
