Caymanians warned over long reach of FATCA

(CNS Business): Although the implementation date for America’s Foreign Account Tax Compliance Act (FATCA) has been pushed back to 1 July next year, local experts are warning Cayman residents with US connections to ensure they are FATCA compliant as soon as possible toavoid severe penalties. Even those who have never lived in the States or had anything to do with the country other than being born there could still be impacted by this far reaching legislation. To help those affected by the planned implementation to be compliant, Cayman Finance and the Ministry for Financial Services have joined forces to hold a seminar on the subject this Thursday (3 October) at The Westin Grand Cayman Resort. Read more on CNS Business