Colleen P. Waddell, Managing Director, Outlier Solutions to Speak at the Knowledge Group’s FATCA Event
New York, NY, September 05, 2015 –(PR.com)– The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Colleen P. Waddell, Managing Director, Outlier Solutions will speak at the Knowledge Group’s webcast entitled: “Latest Regulatory Developments Under FATCA: Best Compliance Practices Uncovered in 2015! Live Webcast.” This event is scheduled for September 3, 2015 from 12:00pm –2:00pm (ET).
For further details, please visit:
https://theknowledgegroup.org/event_name/latest-regulatory-developments-under-fatca-best-compliance-practices-uncovered-in-2015-live-webcast/
About Colleen P. Waddell
Colleen has over 15 years of experience in the financial services industry, primarily managing both retail and institutional global tax operations departments. She specializes in U.S. tax documentation, information reporting and withholding, taxation of trusts and estates, the tax treatment of complex financial products and new business initiatives, as well as global operational concerns impacting local markets including proprietary and client tax reclaims.
Colleen’s current consulting focus is on regulatory compliance for FATCA, U.S. information reporting processes, and Bank Secrecy Act and Anti-Money Laundering programs.
Prior to joining Outlier Solutions, Colleen was most recently a Director at WeiserMazars LLP and prior to that an Executive Director for Global Tax Operations at UBS Investment Bank. In that capacity, she was part of the management team that successfully remediated existing U.S. tax documentation and withholding issues. During her tenure at UBS, she implemented control processes to ensure adherence to global tax rules and regulations, maintained the global tax operations SOX risk assessment and implemented a proactive risk management posture that significantly reduced operational risk by centralizing and automating key tax functions and conducting internal quality assurance.
About Outlier Solutions
Outlier Solutions LLC (Outlier) is a different kind of consulting firm, born from the need to bring a unique solution to the market place. We offer anti-money laundering (AML), Foreign Account Tax Compliance Act (FATCA) and compliance solutions for reporting entities in the United States and abroad. Many businesses have experienced compliance solutions as costly and prohibitive. We believe that good compliance has the ability to enable good business.
Event Synopsis:
Moving into the 2015 compliance and reporting cycle with the U.S. Foreign Account Tax Compliance Act (FATCA), Foreign Financial Institutions (FFIs), Non-Financial Foreign Entities (NFFEs) and Multi-National Corporations (MNCs) are still facing operational challenges and technical difficulties complying with FATCA. The W-8 forms and self-certifications, which help financial institutions comply with their due diligence requirement, are obtusely written and becoming less manageable with the implementation of the U.K.’s CDOT reporting regime and the OECD’s Common Reporting Standard (CRS). Well versed FATCA and global information reporting advisers must help account holders complete the forms and assist entities with due diligence and compliance programs.
Furthermore, the burdensome and expensive regulations, which include both the U.S. and U.K.’s version of FATCA, have been very challenging for the industry due to the unprecedented volume of reporting requirements. Compounding these problems, the rules might be interpreted differently in each jurisdiction. But, FATCA’s global equivalent, the OECD Common Reporting Standard, will pose even more burdensome regulatory conditions.
New deadlines loom each year. Although calendar year 2015 extensions have been granted for the first FATCA reporting deadline for U.S.
Withholding Agents, FFIs in non-IGA jurisdictions and FFIs in Model 2 IGA jurisdictions to report the US account information to the IRS, there are still immediate deadlines that must be met and for Model 1 jurisdictions handling reporting locally, complexity increases with various deadlines. Moreover, these obligations will increase in 2016 and 2017.
It is essential for financial firms to understand FATCA requirements and deadlines, and to have a comprehensive compliance program. This will help to limit the risk from non-compliance and to meet their obligations with IGAs, the IRS, and the Organization for Economic Co-operation and Development (OECD).
In this two hour, live Webcast, a panel of distinguished professionals, thought leaders, and practitioners assembled by The Knowledge Group will review and discuss the Latest Regulatory Developments Under FATCA and provide the audience with Best Compliance Practices to avoid the myriad pitfalls and risk of failure to comply with the law, not only for FATCA but also CRS.
Key topics include:
• FATCA: Current State and Impact on Qualified Intermediaries (QIs)
• FATCA Due Diligence
• Compliance Requirements
• Preparedness of Foreign Governments for FATCA
• The U.S. FATCA and the U.K. FATCA
• OECD Common Reporting Standard
• Regulatory Updates
• Managing Non-Compliance Risks
• Litigation and Penalties
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Group, LLC was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register to an event, please visit: http://theknowledgegroup.org/
