Raportari internationale vs. Integrarea europeana

Raportari internationale vs.
Integrarea europeana
Valentin Ionescu -ASF
Ex- Situatia curenta IFRS
• The United States of America (USA) has not officially adopted IFRS as their
financial reporting framework. Generally Accepted Accounting Principles
(GAAP) remains the current standard in the USA.
• *IFRS Global Map–Legend: Blue – Adopted, Gray – In Process, White – Not
FATCA- situatia curenta
FATCA (Foreign Account Tax Compliance)
The purpose of FATCA is to improve compliance of U.S. taxpayers who have foreign
financial assets and offshore accounts.
Intergovernmental Agreement Model 1
• In July 2012, the U.S. Treasury Department issued the first model for an
Intergovernmental Agreement (IGA) which makes it easier for partner
countries to comply with the provisions of FATCA.
• Under this agreement, FFIs in partner jurisdictions will be able to report
information on U.S. account holders directly to their national tax
authorities, who in turn will report to the IRS.
IGA highlights and benefits
Relaxation of deadlines
Simplified due diligence
Increased clarity around due diligence with country specific provisions
Annex II of the Model 1 IGA includes a country-specific list of financial
institutions, products and accounts that are exempt or deemed compliant
• Increased clarity around insurers
• Clearer definitions with respect to pension annuities and more favorable
rules applicable to new insurance contracts.
Intergovernmental Agreement Model 2
• On November 15, 2012, the U.S. Treasury Department
issued the second model of the Intergovernmental
Agreement (IGA) for complying with the FATCA
• Model 2 IGA was designed to address potential
conflicts of national and local laws that would make it
difficult, for Financial Institutions in some jurisdictions,
to comply with FATCA.
• The most notable differences between Model 1 and
Model 2 IGA’s- In Model 2, financial institutions will
report information directly to the IRS rather than their
local jurisdictions
ASF vs. raportarile internationale
• ASF raporteaza catre ESMA (piata de capital) si
EIOPA (asigurari si pensii).
• EIOPA - raportarile din cadrul Financial
Stability Committee, Semestrial - Spring
financial stability report &Autumn financial
stability report; anual-Annual report.
Raportari ESMA
• In afara de cele trei raportari mai exista alte raportari in
pregatire, si anume:
• Proiectul ESMA Registers – Registrul entităților autorizate, al
sancțiunilor și al prospectelor.
• Proiectul AIFMD Reporting – raportarea conform Directivei
• Proiectul SARIS - privind suspendarea instrumentelor de la
• Schimbul securizat al documentelor - schimbul electronic de
informații intre Autoritățile Naționale și ESMA TRS Joint Sub
• HUB-ul permite schimbul de date/fișiere între mai
multe entități, cum ar fi de exemplu între o Autoritate
Națională și ESMA.
• Prin acces restricționat, fiecare Autoritate Națională și
fiecare aplicație are propria zonă privată pe HUB
(arbore de directoare) unde sunt încărcate fișierele
trimise și de unde fișierele primite sunt descărcate.
• În prezent ESMA HUB este folosit în cadrul sistemelor
TREM și Short Selling.
High Frequency Trading
• CEMA (Committee for Economic and Markets
Analysis) a instituit un grup de lucru pentru
analiza impactului HFT (high-frequency
trading) pe piețele financiare din UE;
• Transmiterea datelor se va face fie prin HUB
sau prin servere FTP gestionate de locurile de
• Avem o globalizare sau o fragmentare a
• Exista la nivel global si european o tendinta de
re-reglementare (MiFID2, Solvency II, Basel

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