Online Training: Certificate on The Common Reporting Standard - Compliance Training and Strategies

Together with the ICC Academy Singapore, Regnology has developed an online and certified learning program: “Certificate on The Common Reporting Standard: Compliance Training and Strategies”. The training can be booked and started at any time.

The Common Reporting Standard (CRS) is an international standard for the automatic exchange of information on financial accounts. Its goal is to increase the fiscal transparency of cross-border wealth management and combat offshore tax evasion. The CRS was developed by the OECD in 2014, in response to a request of the G20 group of the world’s largest economies. It calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. 109 jurisdictions have exchanged information under the Common Reporting Standard as of 2020.

The purpose of this course is to provide an understanding of the key requirements and intentions of the regime, and how to incorporate them as part of a strategic compliance operating model. This should help industry practitioners navigate common issues when onboarding accounts or reviewing changes in circumstances, and better prepare for the reporting exercises and audits.

We are delighted to partner with ICC Academy to bring our new professional certificate on the Common Reporting Standard (CRS). The CRS is here to stay, and we are committed to helping industry professionals increase their knowledge and competence in this area. We believe that our training will prove useful for financial institutions looking to develop and maintain internal expertise on the CRS, as well as to build a long-term compliance strategy. We recommend a holistic approach that leverages the synergies of multiple tax transparency regimes with their respective client due-diligence requirements.”

Ronald Frey, Member of the RegTech Management Board, Regnology

After having completed the online training, participants are able to:

• Build a holistic understanding of the CRS regime and be able to communicate its “spirit” and what it aims to achieve to clients and stakeholders
• Classify financial institutions and financial accounts according to CRS criteria in different scenarios
• Understand the due diligence requirements of the CRS for pre-existing and new accounts
• Understand the reporting requirements and key considerations under the CRS

• Understand best practices of implementing CRS requirements together with broader Anti-Money Laundering and Know-Your-Customer (AML/KYC) compliance practices

Who can participate?
The course will benefit representatives of financial institutions around the world. Especially, professionals working in the area of Compliance, Finance or Tax but also Operations specialists, front office staff or Relationship Managers are addressed. 

Duration and certificate
The four-hour interactive course is delivered by 100% online and the content is divided into six sessions. Successful participation in the training is assessed by a one-hour exam. The participants receive a certificate after having passed the exam. 

More information about the training content and the pricing is available on the offical ICC Academy webpage.

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