There have been many developments in national and European financial markets regulation during the past month, such as the publication of a draft bill implementing the Recovery and Resolution Directive. In addition, the Dutch parliament has clarified the tax treatment of CoCos.

Supervisory authorities have also published a large number of consultation documents, draft rules and other information since the last edition of In context. And finally, we highlight important court decisions.

Dutch regulation

Amendments to the […]

What is FATCA and why was it introduced?

The Foreign Account Tax Compliance Act (FATCA) was introduced to prevent offshore tax evasion by United States persons (includes citizens, tax residents and entities) whether they reside in the US or not.

The rules will require non-U.S. financial institutions, investment entities and insurance companies report back to the United States Internal Revenue Service (IRS) on their US clients and owners if their financial assets exceed certain thresholds.

New Zealand […]