FATCA, FCPA, AML and OFAC allow the US to regulate the world. But what does it really mean?

In the current environment of increased regulation, transparency, reporting and heightened compliance standards, the US and its Government Agencies have an arsenal of tools with extraterritorial application.  

  1. FATCA: requires Foreign Financial Institutions to report information directly to IRS about financial accounts held by U.S. taxpayers or by certain foreign entities controlled by US Taxpayers.
  2. FCPA:  prohibits payment of bribes to foreign officials

    FULL ARTICLE http://www.jdsupra.com/legalnews/fatca-fcpa-aml-and-ofac-allow-the-us-to-22658/


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