AIC advises members to take a hit on FATCA

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The Association of Investment Companies (AIC) is advising members with modest investments in US securities to avoid signing up to FATCA, in the same week as the IMA called for a further delay to the deadline.

FATCA, or the Foreign Account Tax Compliance Act, is a set of measures designed to fight offshore tax evasion by US citizens. It will be a significant cost and administrative burden for financial institutions...

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