“[Moving trades] is certainly harder than it sounds. There are issues relating to regulatory capital, there are issues relating to the banks own internal reporting lines, and then there are issues that are a bit more parochial like bonus pools that really do get affected by moving trades around the network.”

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“[Moving trades] is certainly harder than it sounds. There are issues relating to regulatory capital, there are issues relating to the banks own internal reporting lines, and then there are issues that are a bit more parochial like bonus pools that really do get affected by moving trades around the network.”

—Stephen Fiamma, partner at Allen & Overy in London, on issues surrounding Hong Kong’s Foreign Account Tax Compliance Act.

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