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Compared to FATCA, CRS will be “very simple” for private banks

The common reporting standard (CRS) regime will be positive for private banks and far less onerous than many in the industry expect, according to Pictet Wealth Management’s APAC CEO, Claude Haberer. Haberer told Asian Private Banker that CRS will be “very simple” for private banks, whose only obligation is to inform local authorities about clients’ tax information. Advertisement A spokesperson…

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