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Virtual Executive Roundtable

CRS Deep Dive

Best Practices, Recent OECD Initiatives and Future Implications

Date

23 June, 2021

Time

2 PM SGT

In Partnership with

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Over 130 jurisdictions have begun reporting on the OECD Common Reporting Standard (CRS) in the last few years, and as a result many have built robust and effective CRS frameworks.

However, the ongoing COVID-19 pandemic and consequential economic downturns, has brought tax transparency and tax reporting to the forefront, making it more important than ever for governments to use data from tax transparency initiatives to mobilize tax revenues and combat tax evasion.​

In response to this, major initiatives from the OECD over the last year, include its first Peer Review - conducted on the legal frameworks of the 100 jurisdictions that committed to exchanging information from 2017 or 2018 - and the Guide on Promoting and Assessing Compliance. ​

Additionally, the Global Forum has commenced its reviews on the effectiveness of the implementation of the CRS amongst these jurisdictions and expects to publish the results in 2022. Whilst the Compliance Guide highlights the areas of focus as it pertains to any future reviews or audits.​

In general, one might say that CRS keeps financial institutions busy, no matter if countries have already joined CRS in the past or if they are going to join soon. ​

In this executive roundtable we would like to dive deep into the operational challenges that financial institutions are facing, lessons learned from the various experiences, and the future trends and strategies to build a long-term compliance programme.

Key Discussion Points

  • Key challenges of the CRS thus far

  • Lessons learned and best practices from early adopter jurisdictions and institutions

  • Recent OECD initiatives and future implications: Peer Review Report and Compliance Guide

  • How financial institutions can leverage technology to meet regulatory requirements

  • Centralised vs. decentralised approach to CRS due diligence and reporting

  • The upcoming wave of tax transparency initiatives – what do financial institutions need to take into consideration?

Meeting Agenda

2:00 PM SGT

Welcome and Introductions | Connect Global Group


2:05 PM SGT

Let's set the Scene - Opening Presentation | Vishnu Veluri, Senior Consultant, Regnology


2:15 PM SGT  

CRS Deep Dive Open Discussion | Live discussion and interaction between roundtable attendees and panelists


3:25 PM SGT  

Closing Remarks | Vishnu Veluri, Senior Consultant, Regnology

Executive Roundtable Panel
Executive Roundtable Participants from
About our Partner
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Regnology is a leading international provider of innovative regulatory, risk, and supervisory technology solutions (RegTech, RiskTech, and SupTech), of AEOI and tax reporting products, as well as of services along the Regulatory Value Chain for financial services. Regnology has been a partner for banks and regulators for 25 years. Until the end of 2020, the company was part of BearingPoint group and operated under the name BearingPoint RegTech. Since the sale of the RegTech business to private equity firm Nordic Capital, the company has been independent. In June 2021, the company joined forces with Vizor Software and recently changed its name to Regnology. In total, Regnology serves more than 7,000 financial services firms with reporting solutions. At the same time, the company enables more than 50 regulators and tax authorities on five continents to collect data from 34,000 firms in 60 countries. Regnology has a total workforce of over 770 employees at 17 office locations in 12 countries.

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