Charles Victor Willcox

CRS/FATCA & Regulatory Advisor

About The Speaker

Charlie is an independent consultant specialising in providing advice and assistance with regard to all aspects of the FATCA and CRS regimes and regulatory compliance. Charlie has worked for more than 40 years in financial services in the UK, its Crown Dependencies and Overseas Territories and in Switzerland, focussing primarily on the risk management and control functions, encompassing retail and private banking, wealth management and Family Offices.

He also worked for the UK Financial Services Regulator for five years, leading a supervisory team responsible for asset managers, corporate finance firms and Independent Financial Advisors. Prior to becoming an independent consultant, Charlie worked for fifteen years for the Stonehage Fleming Group, a large and globally represented muti-family office where he implemented the FATCA and CRS regimes and was responsible for ensuring compliance with these regimes across the global group, on an ongoing basis. Charlie is an expert in FATCA and CRS, as well as other tax transparency initiatives such as beneficial ownership registers of companies and trusts and economic substance rules. He advises both financial institutions and client families on the risks and impacts of these regimes.

Upcoming Event

US FATCA Compliance

Course Details
Course overview

This seminar will provide refresher training in respect of the requirements of US FATCA as they relate to investment entity Foreign Financial Institutions (“FFIs”). It will explain recent events that have occurred which have revealed flaws in the current regime and the possible ways that this may cause changes to the rules.

Course Details

The “Brockman” case and the flaws in US FATCA

This part will consider which entities qualify as FFIs, Excepted (Active) NFFEs, or Passive NFFEs 

– Financial Institutions defined

– Reporting FFI or Sponsored FFI: benefits and downsides

– Deemed-compliant entities: Certified/Registered

– Types of Active/Excepted NFFEs

– When is an entity a Specified US Person?

– When is an individual a Specified US Person?

– Validation of self-certification forms:
The “reasonableness test” explained

– Changes of circumstances: How to implement a process
to identify these