The US tax rules known as FATCA require foreign financial institutions (FFIs) to provide certain information to the US Internal Revenue Service (IRS) regarding their account holders so as to avoid being subject to a 30% withholding tax on certain payments received by the FFI, unless the FFI satisfies certain conditions. The critical FATCA definitions of an FFI and an account holder can include pension schemes (and trustees) and their members respectively. This Practice Note considers the application of FATCA to UK-registered pension schemes and certain unregistered schemes that provide similar pension benefits.
This Practice Note provides an overview of how asset managers’ business is impacted by the recast Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR), which took effect on 3 January 2018. Changes may be required in order to comply with requirements that have been placed on asset managers directly by the UK implementation of MiFID II and the direct effect of MiFIR, but there may also be indirect impacts owing to the changes their counterparties are required to make by virtue of their own MiFID II/MiFIR obligations.
This Practice Note considers the FCA and PRA’s powers of search and seizure under warrant. It provides practical advice on how to be ready for a dawn raid, and sets out a detailed checklist of ‘do’s’ and ‘don’ts’ for individuals and firms responding to the execution of a warrant.
This Practice Note, produced in partnership with Richard Bussell, Rebecca Jarvis and Paul Sidle of Linklaters LLP, looks at what insolvency practitioners (IP) need to know about the persons of significant control (PSC) regime.
This Practice Note looks at the self-certification system for tax-advantaged share plans, namely company share option plans, share incentive plans and save as you earn schemes. This Practice Note is produced in partnership with James Jaques & Mirit Ehrenstein of Linklaters.
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