The non-binding referendum by which the citizens of the United Kingdom voted to leave the European Union (“Brexit”) is by now universally recognized as one of the greatest blunders of all time. This monumentally stupid decision is creating utter confusion, and exposing lies, political incompetence and social and political rifts in the U.K. that are… Read More >>
2,000 Firms Use BearingPoint FATCA Service
While controversy swirls around the Foreign Account Tax Compliance Act (FATCA), management and technology consultancy BearingPoint reports that between March and August 2015, more than 2,000 financial institutions in 45 countries have been using its FiTAX financial information about U.S. clients to meet reporting requirements for local tax authorities and the Internal Revenue Service (IRS)…. Read More >>
Firms Battle Black Mondays and ‘Monstrous Spikes’
Caution was the mantra for most securities firms as global markets are still roiling in reaction to China’s economic woes and the sudden devaluation of its currency. As for the impact on post-trade operations, the crashing and soaring volumes are straining firms that rely too heavily on staff and manual systems for processing, especially as… Read More >>
FTF News Technology Innovation Awards 2015 — Special Edition
For the fifth year in a row, the FTF News Technology Innovation Awards 2015 honors the outstanding individuals and the leaders among financial technology product and service providers working to advance post-trade operations. We have chronicled this year’s winners in the special Awards Issue of FTF Focus magazine. This year’s award winners included technology and… Read More >>
London Mayor Finds Ally in FATCA Fight
Boris Johnson, the mayor of London, who recently dove into the controversy of the Foreign Account Tax Compliance Act (FATCA), has a new ally in Nigel Green, founder and chief executive of financial advisory firm deVere Group. Green applauds Johnson’s refusal to pay his FATCA bill. Johnson got unexpected attention when he declared during a… Read More >>
Would You Give Up Your U.S. Citizenship to Fight FATCA?
Is there a growing number of Americans living overseas that want to give up their U.S. citizenship because of the rigors of the Foreign Account Tax Compliance Act (FATCA)? A financial advisory firm, the deVere Group, a vocal opponent of FATCA, says the number of American expats that want to end their citizenship is increasing… Read More >>
deVere Group Opens San Francisco Office
Financial advisory firm deVere Group is opening an office in San Francisco as part of “ambitious expansion plans for the North American market,” say company officials. Adrian Flambard, senior investment advisor for deVere USA, has relocated from deVere Group’s New York City office to head the San Francisco operation on Market Street, officials say. Flambard,… Read More >>
FATCA Tempts More Ex-Pats to Cut U.S. Ties
The number of American expatriates tempted to renounce their U.S. citizenship as a result of the Foreign Account Compliance Act (FATCA) tax law is growing — by 11 percent over the last year, to be exact — according to a poll conducted by deVere Group, an independent financial advisory firm. FATCA, which went into effect… Read More >>
deVere Group Blasts FATCA’s Start
For years, Nigel Green, CEO of investment firm deVere Group, has been warning of a “dark day” looming on the horizon “for the seven million Americans living overseas, and for U.S. firms that operate globally.” Now that day is finally here, as the U.S. Foreign Account Tax Compliance Act (FATCA) goes into effect after years… Read More >>
Is FATCA a Train Wreck You Can’t Miss?
Conventional wisdom has taken a beating recently especially for domestic and international politics. Who would have predicted six months ago that Republican House Majority Leader Eric Cantor would be defeated in a primary, Russia would have annexed Crimea and is threatening to invade the Ukraine, and Iraq would be sliding toward a sectarian war? The… Read More >>
