The Common Reporting Standard (CRS) calls on jurisdictions at a global level to obtain information from their financial institutions and exchange it with other jurisdictions annually.
CRS was developed in response to a request made by the Group of 20 (G20) and approved by the Organisation for Economic Cooperation and Development (OECD) on 15 July 2014.
More than 100 countries are committed to CRS – the majority of which are early adopters, who performed their first exchange in 2017. The remainder - late adopters - are due to begin reporting as of 2018 but, as the deadline approaches, some players are struggling to make the necessary changes to be fully compliant on time.
In our new e-book Common Reporting Standard: a guide for companies operating in the Americas, we provide an overview on CRS requirements in the Americas and how organisations can be better prepared for the classification and reporting processes internally to ensure compliance.
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