GEC NEWS WIREWill conduct two specialized sessions on FATCA and SEPA compliance
EastNets has confirmed that it will be conducting two key sessions during this year’s Sibos, the world’s premier financial services event running from September 16 to 19, 2013 at the Dubai World Trade Centre.
On the opening day of Sibos 2013, EastNets will hold an Open Theatre Session to explain how foreign financial institutions can handle the technical challenges they will be facing with the application of the US Foreign Accounts Tax Compliance Act – FATCA. The Act came into effect in January 2013 and is part of efforts by the US Government to prevent offshore tax evasion.
EastNets will once again take to the stage on the last day of the conference to talk about strategies for leveraging the Single Euro Payments Area or SEPA framework for the optimization of euro payments outside of Europe. SEPA is a payment-integration initiative of the EU that streamlines bank transfers denominated in euros. It covers all 28 EU member states plus the four members of the European Free Trade Association and Monaco.
“Sibos is the main annual event of the global financial services community making the event an ideal platform for EastNets to discuss issues surrounding two critical topics: FATCA and SEPA. Although we offer solutions to ensure proper transactions under these areas, it is vital that financial service firms fully understand their mechanisms, their industry impact, and the tools and best practices to properly manage them,” said Hazem Mulhim, CEO of EastNets.
