Guernsey Expounds on FATCA/CRS Enforcement Measures
On December 17, 2021, Guernsey Revenue Service issued a bulletin discussing compliance measures it may take against a Financial Institution (FI) with potential significant failings in meeting its FATCA and/or CRS obligations. Relevant Review Factors Guernsey provided the below list of nine factors it will take into consideration in determining if it will implement compliance measures against an FI: “whether the non-compliance issue is of a significant seriousness and risk to