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: The Canadian Privacy Law BlogMichael Power would like to introduce you to FATCA
Michael Power would like to introduce you to FATCA (Foreign Accounts Tax Compliance Act).
Don't blame the messenger; Michael's a nice guy:
Michael Power - It?s Time You Met FATCA... So affected institutions (remember FATCA covers both financial and non-financial entities) must identify clients who are American (which means asking the question of every client since ?U.S. persons? do live abroad); obtain their consent to the disclosure of sensitive personal information to the IRS or withhold the provision of a service for a failure to provide consent to disclose. How these organizations reconcile FATCA compliance with PIPEDA compliance is a topic for another day.
Full post as published by The Canadian Privacy Law Blog on October 25, 2010 (boomark / email).
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