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Common Reporting Standard

The legal basis of the automatic exchange of information in Switzerland came into force on January 1, 2017. Contrary to the already implemented FATCA-regime, the automatic exchange of information concerns a much larger number of clients. The process of implementation affects internal processes of the bank for new accounts, forms and systems applications. A due diligence must be conducted for pre-existing accounts. The first reporting by the financial institutions to the Swiss FTA will take place in June 2018. 

 

Our long-term experience allows us to respond quickly to the regulatory developments and to provide our clients with tailor-made solutions. 

 

We will support our clients in the following challenges regarding the implementation of CRS:

 

  • Project support in the implementation of the Common Reporting Standard
  • Support in the adjustment of the onboarding process 
  • Support in the implementation of the Due Diligence on the pre-existing accounts
  • Development of the CRS compliance Framework (policies, instructions and systems) that is pragmatically designed and customized according to the client’s needs 
  • Ad-hoc support by providing CRS-specific answers

 

Should you have any further questions, please do not hesitate to contact us.

CRS / FATCA / QI News
Friday, 16. June 2017
CRS / FATCA / QI: Verlängerung des FFI Agreements und eine zweite Version des Gemeinsamen Meldestandards für den automatischen Austausch von Informationen über Finanzkonten
Friday, 31. March 2017
CRS / FATCA / QI: Verlängerung des Deadlines für die Verlängerung der QI, WP und WT Agreements QI Agreements
Wednesday, 29. March 2017
CRS / FATCA / QI: Reminder: Verlängerung des QI Agreements
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