© 2018 by Hansuke Consulting Limited

 

Hansuke Consulting Limited is registered in England and Wales number 10136213 with its registered office at: 71-75 Shelton Street, London WC2H 9JQ. Hansuke Consulting Limited is an accredited and regulated member firm of the Institute of Chartered Accountants in England and Wales (ICAEW).

 

In accordance with the disclosure requirements of the Provision of Services Regulations 2009, our professional indemnity insurer is International General Insurance Co (UK) Limited, of 133 Houndsditch London EC3A 7AH. The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada.

Alerts

Malaysia publishes CRS Regulations

10 January 2017

Background

 

Malaysia had previously given a public commitment to join the second wave of jurisdictions adopting the Common Reporting Standard (“CRS”).

 

On 23 December 2016, the Attorney General's Chambers of Malaysia published the implementing Regulations to provide the statutory basis for Malaysian Financial Institutions (“FI”) who will have due diligence and reporting obligations.

 

Whilst the Regulations are effective from 1 January 2017, the commencement date for the introduction of new on-boarding requirements is 1 July 2017.

 

The first return will be due by 30 June 2018 and there is an obligation to provide a “nil” return in the event that an FI has no reportable accounts.

Contact us

Ali Kazimi

Managing Director

alikazimi@hansuke.co.uk

Tel: +44 (0) 203 865 0626

Chris Orchard

Senior Principal chrisorchard@hansuke.co.uk

This publication has been written in general terms and therefore cannot be relied on to cover specific situations; application of the principles set out will depend upon the particular circumstances involved and we recommend that you obtain professional advice before acting or refraining from acting on any of the contents of this publication. Hansuke Consulting Limited would be pleased to advise readers on how to apply the principles set out in this publication to their specific circumstances. Hansuke Consulting Limited accepts no duty of care or liability for any loss occasioned to any person acting or refraining from action as a result of any material in this publication.