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Executive Education
Clariden Leadership Institute
FATCA and CRS Compliance and Reporting (UK)
Eugene O'Connell
Faculty Director
Eugene O'Connell, Faculty Director


Eugene has been a trusted trainer and advisor for various organizations around the globe in both the public and private sector. Organizations that have consulted his service include UK Department of Work and Pensions, UK Ministry of Transport, UK Ministry of Defence, Kuala Lumpur City Government, UBS Asia, Takeda Asia, Nigerian Securities and Exchange Commission, Bank of America.


Besides being a member of European Coaching and Mentoring Council, Eugene is also an Accredited Advanced Coach by the prestigious European Mentoring Coaching Council. 


With 25 years of working experience in middle and senior level management across a wide range of international organizations including RBS Greenwich Capital, Tokai Bank Europe, and Prudential Bache Securities, Eugene possesses extensive knowledge on financial analysis and management procedures, budgeting and performance management. With considerable organizational skills as well as deep knowledge of international markets, he managed and organized investment-banking teams across three continents. Eugene was invited to be a keynote speaker at Gambia ECOWAS HR Conference 2015 and to provide his expertise as Financial Lecturer at Chartered Institute of Bankers Nigeria


Throughout his working years, Eugene has dedicated his time to training, coaching, and mentoring leaders. Employing many techniques of his profession where appropriate, he actively listens to his clients and helps them find the path which best helps them attain the organizational and personal goals they need to achieve.

Program Summary


This comprehensive 2-day program is designed for FATCA specialists and leaders to create high-quality and agile compliance frameworks that are able to withstand the challenging and stringent regulations and requirements. You will be equipped with the skills necessary to ensure compliance with FATCA and CRS regulations through a greater understanding of the drivers and expectations behind the latest regulations and standard developments in FATCA and CRS. This session will help you to create a holistic and participative compliance framework and culture to ensure appropriate governance. You will also learn how to implement and operate Qualified Intermediaries, FATCA and CRS requirements in both early and late adopter countries of the regulations.

Programs, dates and locations are subject to change. In accordance with Clariden Global policy, we do not discriminate against any person on the basis of race, color, sex, religion, age, national or disability in admission to our programs.



The Foreign Account Tax Compliance Act (FATCA) was enacted in 2010 by United Federal Law which aims to prevent and detect offshore tax evasion by US persons. The legislation imposes new documentation, withholding, and reporting requirements on all non - US foreign financial institution (FFIs). Failure to comply and disclose the required information under FATCA may lead to a substantial withholding tax on U.S. taxpayers. In the face of stringent compliance environments post-financial crisis, financial Institutions now have a laundry list of new regulations to comply with. For instance, KPMG estimates FATCA compliance will cost global banks in the UK approximately $125 million. Thus, it is absolutely essential for FFIs to stay abreast of the developments in the FATCA compliance culture to mitigate both financial and reputational loss.


Led by Eugene O' Connell, a trusted finance trainer and advisor for organizations around the word including UK Department of Work and Pensions, UK Ministry of Transport, UK Ministry of Defence, Kuala Lumpur City Government, UBS Asia, Takeda Asia, Nigerian Securities and Exchange Commission, Bank of America, you will learn the ways to create a holistic compliance framework and culture to develop appropriate, accurate, and timely assurance in your organization's FATCA and CRS reporting. You will also know how to conduct an Enhanced Due Diligence process in both FATCA compliance and CRS reporting through a detailed understanding of the current clients' on-boarding landscape. This program will equip you with the skills and knowledge necessary to effectively manage the implementation of CRS, CRS On-boarding, CRS Remediation and CRS reporting to help in de-risking the non-compliance costs that could potentially affect the organization's bottom line and reputation.


At the end of the 2-day program, you will gain a better understanding of the objectives, red flags and best practices in FATCA and CRS reporting, allowing you to develop and implement the most appropriate FATCA and CRS compliance framework to create a participative compliance culture in your organization


What You Can Expect


  • Understand comprehensive FATCA & CRS obligations and how to comply with them
  • Learn what due diligence is in the FATCA sense and how it should be performed
  • Learn which financial products have to be reported and which are exempted
  • CRS Reporting timelines and formats
  • Best practices in FATCA & CRS reporting and compliance
  • How to set up internal controls and address operational challenges
  • Key success factors in FATCA & CRS compliance

Who Will Benefit Most


This highly interactive program is suitable for mid-senior Financial Officer, Compliance Officer, Risk Management Professionals, External & Internal Auditors, Back Office Professionals, Wealth Managers and Private Banking Professionals, Lawyers, Consultants,Legal Counsel / Directors, Tax Specialists, Fund Managers, Financial services professionals, Chartered accountants, and Regulatory Compliance Specialists. 


Program Outline

08:30 – 18:00 / 30 November 2017

Day 1


MODULE 1: An Introduction to FATCA

  • Historical background and context.
  • Key FATCA aims, objectives, milestones.
  • FATCA global implementation and impact.
  • The Three Pillars of FATCA Framework (Classification, Reporting, Withholding).
  • Grandfathered Obligations; Active Income; Passive Income.


MODULE 2: An In-Depth Analysis of The Three Pillars of FATCA

  • PILLAR I: FATCA Classification - Direct US and Indirect US account; Due Diligence for Pre-Existing and New US individual and entity accounts; Classifying financial entities and implementing US Indicia requirements; FATCA regulatory exemptions.
  • PILLAR II: FATCA Reporting - FATCA documentation and reporting obligations; FATCA Reports, and Recalcitrant Accounts.
  • PILLAR III: FATCA Withholding - 30% withholding tax penalty; Withholding Payments and Special Rules on FATCA Withholding; Civil and criminal penalties for Responsible Officers.


MODULE 3: An Overview of the FATCA Operational Framework

  • Key FATCA aims, objectives, milestones.
  • Grandfathered Obligations; Active Income; Passive Income.
  • The Three Pillars of FATCA (Classification, Reporting, Withholding).
  • FATCA Due Diligence, Recalcitrant Accounts, Exemptions and Penalties.


MODULE 4: FATCA Road Maps and Implementation Plans

  • Client/investor on-boarding:
  • Content and review of client self-certification
  • Possible client FATCA and CRS status
  • Focus on trusts and fiduciaries
  • Controlling persons identification
  • Client/investor due diligence: 
  • Timing and options to perform due diligence for individuals
  • Timing and options to perform due diligence for entities
  • Treatment of undocumented clients/investors
  • Reporting
  • Data protection and safeguards


08:30 – 18:00 / 1 December 2017

Day 2


MODULE 5: FATCA Withholding and Passthru Payments

  • Withholding Payments and Special Rules on FATCA Withholding.
  • Defining passthru payments in practice.
  • The US IRS rules on passthru payments.
  • Passthru payments flow charts and worked examples.
  • Calculating the passthru payment percentage (PPP).
  • Designing and implementing effective foreign passthru payment systems in practice.


MODULE 6: Analysing the OECD CRS

  • The Convention on Mutual Administrative Assistance in Tax Matters.
  • Analyzing the Standard for Automatic Exchange of Financial Account Information (Model Competent Authority Agreement) (Common Reporting and Due Diligence Standard).
  • Reporting and due diligence standards.
  • Indicia searches (electronic and paper) and permanent residence address test.



  • Comparing FATCA and CRS reporting and due diligence obligations.
  • CRS special rules for non-participating (automatic exchange) investment entities.
  • Assessing CRS Administrative and IT infrastructures, and confidentiality and data safeguards.
  • Implementing FATCA and CRS compliant systems.

CFOs Leadership :
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Discover how our leadership program has shaped the perspectives of CFOs across Asia
Venue: etc.venues, The Hatton, London
Date: 30 Nov - 1 Dec 2017
Faculty: Eugene O'Connell
Early Bird 1: £1,695 (16 Oct 2017)
Early Bird 2: £1,895 (13 Nov 2017)
Regular Fee: £1,995
Group Discount: 2nd participant get 10%, or register 3 participants and 4th participant get a complimentary seat
(1 discount scheme applies)
Contact: kevin@claridenglobal.org
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