Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
The Loan Market Association (LMA) published a note: ‘2014 Summary Note on FATCA’ on 9 June 2014. This replaces the May 2013 note. The note explains the rationalising of the drafting as the 1 July 2014 deadline for implementation approaches. The note includes an explanation of the following issues.
The note explains that the investment grade facility agreements now contains language for FATCA on the basis of an agent in a jurisdiction with a Model I intergovernmental Agreement (IGA) in place but that is not a qualified intermediary. The language is set out in annex 1 to the note.
Other approaches are set out in riders 1 and 2.
The investment grade facility agreements include provisions which were in rider 3 of the previous LMA Note on FATCA and cover the right to withhold but not to gross up. This is on the assumption that the party is FATCA compliant within the required timeframe. If it is not, there is a risk that it would receive pay
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234