WMA Bulletin 31st May 2016
What's going on in our industry? HMRC Offshore Account Notification Requirement Information about this requirement for a one-off notification to clients in respect of offshore accounts has been included in recent editions of WMA Update. The original intention was for the requirement to take effect from 30th June 2016 but on 26th May HMRC confirmed that due to delays in publishing guidance, the Regulations will not come into force on 30th June as previously expected. There is as yet no revised date, but it is expected to be later in the summer. The period to comply with the Regulations will similarly be pushed out from 30th April 2017. Again this date is yet to be confirmed. Further updates will be provided to members as soon as available.
CSD Regulation: Euroclear Guide on Client Impacts Euroclear have published a useful guide on the key impacts of the CSD Regulation on Euroclear’s clients. A summary of some of the key impacts on member firms was also included in the March 2016 edition of WMA Update.
Pensions Dashboard: Pension Finder White Paper Launch On 26th May 2016 the Pension Finder Alpha project’s White Paper, “Creating a Pensions Dashboard” was published. This follows work between Government and stakeholders from across industry with a view to achieving the Government’s vision of creating a Pensions Dashboard by 2019. Anyone interested in a copy of the White Paper can contact Andy Thompson.