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Revised 2020 US Tax Addendum published by ISLA

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Published on: 27 May 2020
Published by LNB News

LNB News 27/05/2020

Document Information

Issue Date: 27 May 2020

Published Date: 27 May 2020

Jurisdiction(s): United Kingdom

Article summary

The International Securities Lending Association (ISLA) has published the revised 2020 US Tax Addendum to the Global Master Securities Lending Agreement (GMSLA) 2010 with supplementary guidance notes. The revised addendum ‘provides a broader approach, covering Qualified Derivative Dealer and Qualified Securities Lender statuses concurrently’. The revised addendum also covers a number of issues such as FATCA non-compliance tax risk on collateral securities that are not substituted ahead of income dates.

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