Oct 01, 2014
“The costs are in the tens of millions of dollars to build compliance. The biggest impact is on in-house counsel in setting up strong compliance systems and modifying existing due diligence.”
- Mark P. Howe, commenting in Crain’s New York Business on compliance requirements for financial institutions under the Foreign Accounts Compliance Taxation Act (FACTA).
Scott Cammarn, Mark Chorazak
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