Comments on: Firms subject to U.S. FATCA advised to press on with preparing despite rule delay http://blogs.reuters.com/financial-regulatory-forum/2012/11/06/firms-subject-to-u-s-fatca-advised-to-press-on-with-preparing-despite-rule-delay/ Fri, 19 Apr 2013 00:29:31 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: quant18 http://blogs.reuters.com/financial-regulatory-forum/2012/11/06/firms-subject-to-u-s-fatca-advised-to-press-on-with-preparing-despite-rule-delay/comment-page-1/#comment-16577 quant18 Tue, 06 Nov 2012 16:38:25 +0000 http://blogs.reuters.com/financial-regulatory-forum/?p=9544#comment-16577 J. Richard Harvey, who is quoted in the article, is not merely a "former senior advisor to IRS Commissioner Doug Shulman" but one of the architects of FATCA. Indeed he even refers to himself a "FATCA insider". A first step towards objectivity in this article would be to make this fact clear. More broadly, Mr. Olaoye in his capacity as a journalist should go beyond simply quoting the cheerleaders for FATCA and the compliance firms who are now doing a brisk business helping banks implement new systems to prepare for it, and include prominent voices of opposition in industry and academia such as James Jatras or Art Cockfield. J. Richard Harvey, who is quoted in the article, is not merely a “former senior advisor to IRS Commissioner Doug Shulman” but one of the architects of FATCA. Indeed he even refers to himself a “FATCA insider”. A first step towards objectivity in this article would be to make this fact clear.

More broadly, Mr. Olaoye in his capacity as a journalist should go beyond simply quoting the cheerleaders for FATCA and the compliance firms who are now doing a brisk business helping banks implement new systems to prepare for it, and include prominent voices of opposition in industry and academia such as James Jatras or Art Cockfield.

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