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Organization for Economic Co-operation and Development Financial Institutions

Eversheds Sutherland (US) LLP

Tax Bytes: Week of June 9, 2025

Welcome to this week’s edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. Each week we pull together the items we deem most important to...more

Conyers

Why Bermuda Financial Institutions Must Ensure CRS Compliance

Conyers on

The Organisation for Economic Co-operation and Development (OECD) has urged participating tax authorities around the globe to take further steps to ensure compliance with the Common Reporting Standard (CRS). As a result...more

Conyers

Unveiling Tax Realities: Debunking Myths about the British Virgin Islands

Conyers on

In this review of taxation and the British Virgin Islands, Conyers Corporate Counsel Nicholas Kuria discusses some of the most commonly misunderstood notions relating to the use of offshore jurisdictions, with a focus on the...more

Latham & Watkins LLP

OECD Announces Reform of the Arrangement on Officially Supported Export Credits

Latham & Watkins LLP on

The Reform will extend tenors and reduce borrowers’ fees to encourage commercial bank lending into energy transition projects. The Organisation for Economic Co-operation and Development (OECD) has agreed a landmark deal...more

Paul Hastings LLP

Human Rights Risks for the Financial Sector: Lessons from Ten Years of the OECD Guidelines

Paul Hastings LLP on

In 2011, following the adoption of the United Nations Guiding Principles, the OECD Guidelines for Multinational Enterprises (the “Guidelines”)—the only existing intergovernmental guidance to businesses—introduced a new...more

Conyers

Recent Regulatory Developments Affecting BVI Mutual Funds and Private Investment Funds

Conyers on

Requirement to appoint a Money Laundering Reporting Officer (“MLRO”) - Under the Anti-Money Laundering Regulations (Revised Edition 2020), as amended by the Anti-Money Laundering (Amendment) Regulations, 2022, and the...more

Davies Ward Phillips & Vineberg LLP

Highlights of Canada’s Latest Legislative Tax Proposals

The Department of Finance recently released a package of materials containing potential changes to the Canadian tax system (Tax Proposals). The materials, released on August 9, 2022, include draft amendments to the Income Tax...more

Freeman Law

OECD Proposes Rules for Intermediary Crypto-Asset Reporting, Due Diligence

Freeman Law on

On March 22, 2022, the Organization for Economic Cooperation and Development (“OECD”) issued proposed rules for the collection and exchange of information on transactions involving crypto-assets. The OECD intends for these...more

Foodman CPAs & Advisors

Cómo las administraciones tributarias pueden monitorear la capacitación en cumplimiento de FATCA y CRS de las IF

Un nuevo informe de la Organización para la Cooperación y el Desarrollo Económico (OCDE) dice que las administraciones tributarias pueden evaluar el cumplimiento de FATCA y CRS de las instituciones financieras al monitorear...more

Foodman CPAs & Advisors

Cómo las Administraciones Tributarias Manejan el Incumplimiento de FATCA, CRS

Las administraciones tributarias pueden utilizar una combinación de medidas de detección, preventivas y correctivas para evaluar y tratar Ley de Cumplimiento Tributario de Cuentas Extranjeras (FATCA) y el incumplimiento del...more

Foodman CPAs & Advisors

Cómo asegurar la colaboración de las partes interesadas en FATCA y CRS

Las partes interesadas en la Ley de Cumplimiento Tributario de Cuentas Extranjeras (FATCA) y el Estándar Común de Reporte (CRS) son clave para los esfuerzos exitosos de implementación, cumplimiento y mantenimiento de las...more

Foodman CPAs & Advisors

Preguntas que las IF deberían hacer a los Proveedores de Servicios Externos de FATCA y CRS

Guía de la OCDE ofrece a las instituciones financieras asesoramiento sobre la contratación de organizaciones de servicios externos para gestionar el cumplimiento....more

Foodman CPAs & Advisors

Questions FIs Should Ask External FATCA and CRS Service Providers

OECD Guide Offers Financial Institutions Advice on Hiring External Service Organizations to Handle Compliance - While financial institutions (FIs) have final responsibility for compliance with the Foreign Account Tax...more

Foodman CPAs & Advisors

How to Ensure FATCA and CRS Stakeholder Collaboration

OECD Report suggests compliance regime elements for FIs and Stakeholders - Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS) stakeholders are key to financial institutions’ (FIs) successful...more

Foodman CPAs & Advisors

How Tax Administrations Handle FATCA, CRS Non-Compliance

Tax administrations can use a combination of detective, preventative and corrective measures to assess and treat Foreign Account Tax Compliance (FATCA) and Common Reporting Standard (CRS) non-compliance, according to the...more

Foodman CPAs & Advisors

How Tax Administrations Can Monitor FIs’ FATCA and CRS Compliance Training

Governance and Implementation Compliance Hallmarks for FIs - A new report from the Organization for Economic Cooperation and Development (OECD) says that tax administrations can assess financial institutions’ FATCA and CRS...more

Conyers

Six Reasons for Investment Fund Managers to Locate in Bermuda

Conyers on

The introduction of economic substance requirements in offshore jurisdictions has sharpened the impetus for investment fund managers to establish a physical office where their funds are incorporated. Here are six good reasons...more

White & Case LLP

Project Finance, human rights and climate change: Updated Equator Principles 4 in effect from October

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The Equator Principles have been one of the principal frameworks for managing sustainability and ESG risk in projects by financial institutions since 2003.  The latest update – known as EP4 – renews the focus on human rights...more

Vinson & Elkins LLP

How COVID-19 Is Affecting International Corruption And Financial Crime

Vinson & Elkins LLP on

The coronavirus pandemic continues to upend the global economy and is increasing compliance risks for businesses in the process. We have previously reported how COVID-19 is increasing risks relating to insider trading and...more

A&O Shearman

Updated Equator Principles Finalized

A&O Shearman on

Updated Equator Principles with stronger standards and a broader scope were finalized in November 2019 and are set to come into effect in July 2020. ...more

White & Case LLP

Proposed Revisions to Equator Principles Released for Review

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The Equator Principles Association (EPA) has released the much-awaited draft text of Equator Principles 4 (EP4). Further consultation of the draft text will be coordinated by the EPA in July and August, and it is anticipated...more

Womble Bond Dickinson

The Juncker Presidency and EU Tax Policy

Womble Bond Dickinson on

In this reprint of his 2014 article, Rick leveraged his past working relationship to Jean Claude Juncker to accurately predict the unprecedented tax policy success of the Juncker Commission. Jean-Claude Juncker,...more

Foodman CPAs & Advisors

Financial Institutions and Golden Passports

On October 16, 2018, the Organization for Economic Cooperation and Development (OECD) issued guidance to Financial Institutions (FIs) regarding what is known as “Golden Passports”. ...more

Hogan Lovells

“Specific Instances” under OECD Guidelines – What can financial institutions learn from the recent ANZ case on providing finance...

Hogan Lovells on

The Australian National Contact Point for the OECD Guidelines for Multinational Enterprises (“AusNCP”), which handles “specific instances” relating to alleged non-observance of the Guidelines...more

Butler Snow LLP

The OECD Issues an Updated CRS Implementation Handbook

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The Organization for Economic Co-operation and Development (the “OECD”) has published version 2.0 of its Common Reporting Standard (the “CRS”) Implementation Handbook (the “Handbook”)....more

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