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FATCA fear nothing but a storm in a teacup: Hong Kong-based lawyer

“Honestly, FATCA’s not a big deal for Asia’s private banks,” say the head of a local law firm specialising in private banking matters, his assertion certainly placing him odds with many in the legal fraternity. Law firms region-wide have been persistent in their warning that the United States’ foreign account tax compliance act (FATCA) will place a sizable burden on private banks,…

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