InstructorTerri Hays
TypeOnline Course
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Tuition Options


PracticeEdge Elite™

Standard Tuition $400 US

Senior Fellow Dawn Howe, Partner, Walkers Global

In July 2014, local legislation was introduced into the Cayman Islands to facilitate the implementation of the United States Foreign Account Tax Compliance Act (“FATCA”).  Designed to deter tax evasion by having non-US entities perform due diligence to identify US-taxpayers and report account balances to the US Internal Revenue Service, the Cayman Islands has now completed the first reporting cycle in June 2015.  As Cayman Islands Reporting Financial Institutions (“FFIs”) now prepare for the 2016 reporting cycle, the session will focus on the practical experiences of FFIs undertaking the due diligence and reporting processes, and lessons learned from 2015.   Further, as FATCA expands globally with the introduction of the Common Reporting Standard (“CRS”), with the Cayman Islands being an early adopter of this new ‘Global FATCA’ regime, the session will cover the new procedures which FFIs need to focus on to ensure that stay ahead of the FATCA curve.

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Students should leave this Course with a solid introduction to FACTA, including:

1. Understand the current status of FATCA legislation in the Cayman Islands
2. Understand the key components of FATCA – Classification, Registration, Due Diligence and Reporting
3. Review practical issues experienced during 2015 reporting cycle
4. Overview of practical solutions to minimize FATCA compliance burden
5. Understand key principles of Common Reporting Standard
6. Review steps that FFIs should be taking now to prepare for CRS
7. What is coming next?

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Senior Fellow from Practice:

  • Dawn Howe, Partner, Walkers Global

Guest Lecturers:

  • James Kickham, Senior Manager, Financial Services, EY
  • Michael Padarin, LLM, Partner, Investment Funds Group, Walkers Global
  • Blaise Ting, Senior Manager, Financial Services-Tax Ernst & Young


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Accreditation Information

CLE Information

Credit Hours: 4
Subject Area: Professional Practice
States: Contact Curriculum Advisor For More Information

CPE Information

Credit Hours: 6
Subject Area: Accounting
States: Contact Curriculum Advisor For More Information

Course ID Number:  8390

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Alabama: Approval of all web based programs is limited to a maximum of 6.0 credits.

Arizona: Does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. RCA programs may qualify for credit based on the requirements outlined in the MCLE Regulations and Ariz. R. Sup. Ct. Rule 45.

Iowa: The approval is for one year from recorded date. Does not approve of Audio-only On-Demand Webcasts.

Missouri: On-demand web programs are restricted to six hours of self-study credit per year. Self-study may not be used to satisfy the ethics requirements. Self-study can not be used for carryover credit.

New Hamphsire: The approval is for three years from recorded date.

New Mexico: On-Demand web programs are restricted to 4.0 self-study credits per year.

New York: Newly admitted attorneys may not take non-traditional course formats such as on-demand Web Programs or live Webcasts for CLE credit. Newly admitted attorneys not practicing law in the United States, however, may earn 12 transitional credits in non-traditional formats.

North Carolina: A maximum of 4 credits per reporting period may be earned by participating in on-demand web programs.

Ohio: To confirm that the web program has been approved, please refer to the list of Ohio’s Approved Self Study Activities at Online programs are considered self-study. Ohio attorneys have a 6 credit self-study limit per compliance period. The Ohio CLE Board states that attorneys must have a 100% success rate in clicking on timestamps to receive ANY CLE credit for an online program.

Oklahoma: Up to 6 credits may be earned each year through computer-based or technology-based legal education programs.

Pennsylvania: PA attorneys may only receive a maximum of four (4) hours of distance learning credit per compliance period. All distance learning programs must be a minimum of 1 full hour.

Rhode Island: Audio Only On-Demand Web Programs are not approved for credit. On-Demand Web Programs must have an audio and video component.

Tennessee: The approval is for the calendar year in which the live program was presented.

Virginia: All distance learning courses are to be done in an educational setting, free from distractions.

Wisconsin: Ethics credit is not allowed. The ethics portion of the program will be approved for general credit. There is a 10 credit limit for on-demand web programs during every 2-year reporting period. Does not approve of Audio-only On-Demand Webcasts.

Iowa, Mississippi, Oklahoma, and Wisconsin DO NOT approve Audio Only On-Demand Web Programs.

If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.

If applicable, the RCA will apply for credit in your state upon request.