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In an announcement yesterday, the IRS confirmed that it would update the proposed FATCA Treasury Regulations released on 8 February 2012 (Regulations) to incorporate a number of changes, which should greatly assist Australian financial institutions in their FATCA preparation and compliance
Many in the financial services industry breathed a sigh of relief when the government recently removed the opt-in requirement under the Future of Financial Advice (FOFA) bills for financial planners and other industry members with approved codes of conduct
