NEWS

The European Union General Data Protection Regulation (GDPR) comes into effect on May 25^th 2018 and with just a few months left to comply with the requirements, time is of the essence for businesses.

Fund managers and administrators in particular are caught between the proverbial ‘rock and a hard place’ with respect to Know Your Client (KYC) documentation. On the one hand they must comply with KYC regulations by collecting private and potentially sensitive information on their investors (the ‘data subjects’), while on the other hand they are obliged to respect the evolving rights of investors in relation to data protectio…

The Foreign Account Tax Compliance Act (FATCA) has effectively extended the need to complete US tax forms to any financial institution that opens a bank account, holds investments in the US or deals with a US-based supplier or customer. These W Series forms come in different formats. Which one applies to your entity and how do you know which fields to complete?

The point of W Forms

The ID Register (TIDR), an online Customer Due Diligence (CDD) platform has signed a strategic alliance with one of the leading providers of professional services, KPMG Channel Islands Limited.

Tim Andrews, Director of The ID Register (pictured right) signed the alliance with Jason Laity, Senior Partner (pictured left) and Tony Mancini, Tax Partner, KPMG.

Chris Merry Chief Executive of Ipes said, “We are delighted to form this alliance with KPMG in the Channel Islands. It provides us the opportunity to jointly promote The ID Register to potential clients, whilst also opening up new markets for this market leading onlin…

The ID Register has announced two senior appointments to continue its phenomenal growth since its launch 18 months ago. The online platform has appointed Mark Quigley and David Riordan to its senior team.

Mark Quigley (pictured left) joins as Legal Manager, while David Riordan (pictured right) joins as Project Manager. Both appointments are based in the Cork Office.

Mark has an extensive legal background, being qualified as an Attorney in New York and a solicitor in Ireland. He joins The ID Register from Citibank where his responsibilities included operational risk, European KYC and business control. Mark will be the c…

One year after launch, the revolutionary Guernsey-based private funds platform, The ID Register (www.theidregister.com), has grown substantially with help from Carey Olsen.

The ID Register is a universal investor onboarding platform created in response to the changing regulatory requirements and frustration in the funds industry at the lengthy paper-based processes for customer due diligence (CDD); it lets users create one complete Know Your Client and FATCA profile and share it securely with their counterparts.

Director of The ID Register, Tim Andrews, said: “The ID Register has doubled in size in less than 12 months by…

As asset managers face further pressure to carry out checks that used to be left to banks, Know-your-customer processes are industrialising. By Fiona Rintoul.

Partly in response to regulatory requirements, know-your-customer (KYC) has become an important part of client management for asset managers.

Stemming partly from an international clampdown on money laundering and tax evasion, and partly from the investor protection aims of the new Markets in Financial Instruments Directive (MiFID II), firms must compile an unholy mix of personal data and information related to a client’s investment goals.

“The primary driver in r…