By Andrew Quinlan, April 24, 2013
There are many problems with the FATCA intergovernmental agreement (IGA) process. From a US perspective, they agreements represent a subversion of the proper treaty process, an unconstitutional expansion of executive powers, and an unwise commitment to saddle US banks with expensive new reporting requirements.
From an international perspective, the IGA’s are deceptive and ill-advised. For more on this perspective, Allison Christians has a great write-up in the Cayman Financial Review that can serve as an IGA primer for those who are still confused about the process and its implications.
