Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Top Links You Must Click On


Thomson Reuters Launches FATCA Compliance Solution
Combined Market Leading Content and Technology Reduces Regulatory Burden for Firms

LONDON -- (Marketwire) -- 01/07/13 -- Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced the launch of a solution to help institutions fulfil and comply with their obligations under the forthcoming US Foreign Account Tax Compliance Act (FATCA). Supported with the full power of Thomson Reuters content and solutions assets from its Governance, Risk & Compliance, and Tax & Accounting businesses Thomson Reuters for FATCA Solution, brings together market leading technology already widely used by organizations around the world to solve issues with regulatory compliance, tax documentation and tax reporting. It will enable organisations to identify, maintain and validate their customer records to assist in FATCA compliance.

It is estimated that tax avoidance by US citizens and entities using offshore bank accounts and other vehicles held at foreign financial institutions (FFIs) is costing the US government around $500 billion a year. Under FATCA rules, which become effective on 1 January 2013, all FFIs will be required to collect, manage and report all information that could reasonably point to individual's liability for US taxation to the Internal Revenue Service (IRS) -- a process estimated to cost foreign banks, with more than 25 million accounts, at least US$250 million (US$10 per account) to implement, according to the European Banking Federation and the Institute of International Bankers.

"The real costs for FATCA compliance, on an individual firm basis, will vary based on the state of the client account data in question and the technology and systems framework in place to store that data," said Virginie O'Shea, analyst, Aite Group. "Those with a more robust legal entity or client data management framework or anti-money laundering (AML), or Know Your Customer (KYC) assessment scheme in place are likely to be better positioned to tackle the challenge."

The impact of FATCA will be widely felt across the financial industry with banks, investment funds, insurance companies, mutual funds, broker-dealers, custodians, intermediaries, and private equity firms all having to comply. FATCA places significant reporting requirements on firms to identify US account holders. This will create significant operational and systemic pain points, particularly around on-boarding, classifying and documenting new clients, and in gathering sensitive data from a variety of structured and unstructured sources.

Thomson Reuters for FATCA Solution comprises modules for On-Boarding, featuring US indicia search; Self-Assessment, featuring W-8 and W-9 form preparation and collection; and Tax Information Reporting, featuring forms 1042, 1042S and 1099. The solution also features configurable regulatory and management reporting. It is designed to integrate easily with organisations existing processes and technology and is offered as an installed or hosted solution.

"FATCA compliance will require a multi-disciplinary approach that will touch many points across an organization," said Laurence Kiddle, commercial director, FATCA, Thomson Reuters. "Thomson Reuters has brought together a number of leading tried and tested technologies, spanning governance, risk, compliance, tax and accounting to enable compliance with this new direction in taxation regulation. This approach makes us uniquely placed to provide a full, and modular, solution that can help institutions fulfil and comply with the obligations they are under and supports every stage of the challenges they will face as a result of FATCA."

Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to: http://thomsonreuters.com

CONTACTS

Alan Duerden
PR Director, GRC & Marketplaces
+44 20 7542 0561
+44 7825282483
alan.duerden@thomsonreuters.com

Tina Allen
PR Manager, Tax & Accounting
+ 44 207 375 6814
+44 7766 922022
tina.allen@thomsonreuters.com

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Enterprise Open Source Magazine Latest Stories . . .
MapDB is an Apache-licensed open source database specifically designed for Java developers. The library uses the standard Java Collections API, making it totally natural for Java developers to use and adopt, while scaling database size from GBs to TBs. MapDB is very fast and supports a...
CommVault on Tuesday announced new enhancements to its PartnerAdvantage program designed to help channel partners accelerate revenue growth and simplify collaboration as they expand into new markets, such as data protection, archiving, mobility and cloud services. The expanded program ...
Dell and Red Hat Inc. have announced the availability of co-engineered, enterprise-grade, private cloud solutions based on OpenStack, the Dell Red Hat Cloud Solution, powered by Red Hat Enterprise Linux OpenStack Platform. The companies also have extended their collaboration to enable...
Last week was a crazy week for information security. That's probably also the understatement of the year. With the public exposure of Heartbleed, everyone was talking about what to do and how to do it to help customers and the Internet, in general, deal with the ramifications of such a...
Jelastic on Tuesday announced support for multiple ISV software packages in Jelastic’s products for enterprises, hosting service providers and developers. This support is achieved using OpenShift by Red Hat’s pluggable Cartridge standard, allowing those developers to build application ...
Red Hat on Monday announced OpenShift Marketplace, a one-stop shop that will enable customers to find and try solutions for their cloud applications. The OpenShift Marketplace will bring the power of Red Hat's OpenShift Platform-as-a-Service (PaaS) partner ecosystem directly to OpenShi...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE