Course Overview
The aim of this programme is to analyse the two main regulations currently in place regarding the automatic exchange of financial account information for tax purposes, namely the United States’ Foreign Account Tax Compliance Act and the OECD’s Common Reporting Standard, as well as the impact of their provisions on financial institutions.
Both FATCA and CRS are presently global transparency initiatives that require Foreign Financial Institutions to automatically report financial account information of specific account holders that are subject to reporting, as per the content of the regulations. Financial Institutions are instructed to implement exhaustive due diligence measures intending to hinder any attempt by account holders to bypass the reporting. The FATCA and CRS obligations are therefore an expansion of the pre-existing know-your-customer (KYC) requirements that Financial Institutions have to fulfil, mainly due to the added need for constant monitoring and reviewing of account holders’ information and accounts, whereas KYC processes often simply follow a model of periodic reviews based on clients’ risk-rating.
Training Objectives
Training Outline
Who should attend
The programme is also ideal for all those who aim to obtain their CPD training, as required by CySEC, CyBAR, and the ICPAC.
Training Style
The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies, practical examples, real-life simulations. Most of the training will focus in assessing participants’ current strengths and weaknesses via formal assessment tools. Participants will also benefit from customised feedback at the end of the programme and take away the knowledge gained to be transferred at their workplace. Most of the training’s time will be invested in analysing a real-life case study that will help participants understand how to solve problems in similar occasions. Participants will engage in exchange of ideas and sharing of knowledge on the subject matter. Participants will also be able to ask questions and obtain clarifications from the trainer on all the material covered.
CPD Recognition
This programme may be approved for up to 6 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
Training Fee
€120.00 – €240.00
HRDA-approved seminars are exempted from VAT for eligible organisations applying for the HRDA subsidy. A 19% VAT will apply to seminars and participants who do not qualify for the HRDA subsidy.
Are you applying for the HRDA subsidy? | Yes, No |
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Day 1: May 23, 2024 | 09:00-15:00
Start time: 09:00 EET
End time: 15:00 EET
Venue: Classroom (Nicosia)
Coordinates: 6 | Duration: 6 hrs
Directions: <a href="https://eimf.eu/event-organizer/demetris-savvides/">Demetris Savvides (view the trainer's bio here)</a>
Phone: +35722274470
Email: [email protected]
Venue: Classroom (Nicosia)
CPD Units: 6 | Duration: 6 hrs
Phone: +35722274470
Training Schedule
May 23, 2024 | 09:00-15:00
Industry Expert: Demetris Savvides (view the trainer's bio here)