Asian alts managers warned of UK 'Fatca'

Asian managers are focused on Fatca compliance with US authorities, but they also need to be mindful of meeting the UK equivalent for alternative funds, notes Angelica Kwan of consultancy PwC. The Foreign Account Tax Compliance Act is part of a clampdown on tax avoidance by US authorities, requiring foreign financial institutions to identify reportable accounts from American clients to the US’ Internal Revenue Service (IRS). The IRS earlier this month gave foreign financial inst…