U.S. signs Competent Authority Arrangements with Australia and U.K.

On 24 September 2015, the U.S. Competent Authority signed Competent Authority Arrangements (“CAAs”) with Australia (Link) and the U.K. (Link) according to the IGAs signed with these jurisdictions (Link to statement). The CAAs establish the procedures for the automatic exchange obligations and for the exchange of information. The CAAs signed with Australia and U.K. are the first ones but it is expected that more such Arrangements will be soon signed with the Competent Authorities of additional jurisdictions.

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