US kicks FATCA deadline down the road; Burma promises central bank freedoms; RBI on derivatives warpath (again)

The US has kicked the deadline to hit FATCA regulations down the road; Burma has promised more central bank autonomy by splitting its ties with the finance ministry; the Reserve Bank of India fiddles again with FX hedging regulations.

By Daniel Flatt, I-Ching Ng

Jul 16, 2013

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FATCA deadline extended for another six months
The US government extended the deadline for the implementation of Foreign Account Tax Compliance Act until July 1 2014, giving banks, insurers, investment funds and other financial institutions more breathing room to comply with the new US tax rule to report on and possibly be taxed on their US-related transactions globally.

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