Regulatory Alerts2014-01-01
Decision No. (3) of 2014 Regulating Procedures for Implementing the US Tax Compliance Law (FATCA) Regarding Accounts of US Persons Dealing with Non-Banking Financial Market Entities
The Egyptian Financial Regulatory Authority (FRA) issued Decision No. (3) of 2014 to regulate compliance procedures for the US Foreign Account Tax Compliance Act (FATCA). The decision mandates specific operational and reporting requirements for non-banking financial market entities. It specifically targets the monitoring and disclosure of accounts held by US persons interacting with these regulated entities.
Share