FATCA
Actions taken by SGSS
SGSS is part of the planned transversal structure created at Societe Generale group level to analyse FATCA’s consequences for all the Group’s businesses and on client relationships. The objective, after a diagnostic phase, is to define and implement an action plan for compliance with the requirements of the status PFFI before 1 January 2013.
In addition, SGSS is actively participating in the lobbying led by Societe Generale within banking and asset management associations, both in France and at a European level. The objective is to propose realistic solutions to the IRS and the US Treasury before the practical terms and conditions of the reform are completely finalised.
This new regulation represents a challenge for financial intermediaries given the very short implementation deadlines and the extent of its impact on processing. In order to ensure the best possible service to its clients, SGSS is proactively involved in putting measures in place within Societe Générale to meet this challenge.