Trained as a lawyer, the trainer has over 19 years experience in international banking and structured finance transactions, including real estate finance, loans, leverage finance, debt capital markets, securitisation, structured products, repos, derivatives and financial regulatory and compliance. She has been actively involved in the creation of innovative award winning structured transactions and negotiating complex financings.
She has advised global institutions such as Credit Suisse, Citigroup and Goldman Sachs and spent many years practicing law at Allen & Overy LLP, Linklaters and Sidley Austin Brown & Wood in multiple jurisdictions including London, New York, Hong Kong, Singapore etc.
She holds a Law LLB (Hons) degree from University College London and has worked in the Finance Know-how team at Clifford Chance. She is an author and now runs her own business advisory, training and legal consultancy.
This is designed to provide a basic understanding of the important aspects of The Foreign Account Tax Compliance Act (FATCA) provisions and the impact it has on the contracts entered into by various financial institutions in the current market. Such provisions will of course vary from institution to institution and from transaction to transaction depending on the nature and type of transaction hence this course seeks to discuss the most common provisions currently in use in today's market.
Initially we will set the scene by going through the background of the underlying US legislation from which FATCA emerges followed by the core elements of the FATCA provisions. We will then cover the obligations imposed by FATCA in particular the withholding tax obligation.
We will then go through the key terms defined in the legislation such as withholdable payments, sale or disposition, the exceptions and pass through payments. We will cover in detail the types of entities affected by FATCA by discussing the definitions of Foreign Financial Institutions (FFIs) and Non-Financial Foreign Entity (NFFE). We will discuss the financial account, the grandfathered obligations and the concept of material modifications from the FATCA perspective.
We will then move on to cover the various models of Intergovernmental Agreements (IGAs) and the timeline for implementation of FATCA. Finally we will go through the typical FATCA representations and warranties and the tax gross up obligation clauses. We will also cover the definition of “Affiliates” and finish of with a questions and comments session.
This will cover the practical compliance and financial reporting aspects in the UK relating to FATCA.
We will discuss the implementation of FATCA in the UK and the UK/US IGA. We will then cover the 4 main obligations of the Reporting Financial Institutions and what information is required to be reported. We discuss the consequences of non-compliance and for avoidance. We go through the key differences between the FATCA regime and the CRS.
We then go into detail on submitting a FATCA Return and discuss the HMRC's guidances on registration and reporting.
This course is relevant for in-house lawyers and private practice lawyers alike and bankers involved in structured finance, from the documentation teams to the structurers. This course will also be of relevance to financial institutions such as asset managers, portfolio managers, hedge funds and investors involved in structured finance documentation.
Other Tax courses that may be of interest,
Training Course Summary
|Tax Issues in Commercial Property||Master the different direct taxes and allowances in commercial property transactions|
|Tax Issues in Mergers and Acquisitions||Have explained to them how to advise individual vendors, including entrepreneurs relief and the tax treatment of tax consideration|
|Transfer Pricing||This transfer pricing course is intended for those who need to understand different areas, functions and terms associated with transfer pricing.|