Funds have battle with US Fatca rules

Hong Kong and Asia fund managers can celebrate as the US Treasury and Internal Revenue Service last week agreed to postpone a new US tax law from January next year to January 2014.

But industry players warn against breaking out the champagne too soon as no agreement has been reached to exempt the thousands of retail and pension funds in Asia. It seems more lobbying will be needed.

For those who are not familiar, here is an introduction.

via Business feed http://www.scmp.com/business/article/1075615/funds-have-battle-us-fatca-rules