Regulations

FATCA means Foreign Account Tax Compliance Act and applies to US taxable private persons and legal entities located outside of the United States. Germany has signed a bilateral agreement to exchange data with the USA to improve tax compliance.

CRS stands for Common Reporting Standard and is a self-disclosure regarding tax residency of legal entities.

KYC means know-your-customer and is a mandatory verification of private persons and legal entities. The background is the prevention of money laundering, economic crime and terrorism. To standardize the information, the Wolfsberg Questionnaire was developed by the Wolfsberg Group
(members are 13 global banks).

Request for Dodd-Frank Status Information to Facilitate Compliance with Certain U.S. Swap and Security-Based Swap Rules.

The Canadian Representation Letter provides information needed to assess how Canadian Regulatory Requirements do or may apply to transactions.

The ISDA Master Regulatory Disclosure Letter (MRDL) provides for the exchange of counterparty status information required under the European Market Infrastructure Regulation relevant for the European Union (EMIR) and for the United Kingdom (UK EMIR).