Data Protection Board statement seen to kick off long-sought review of EU's FATCA regs
After years of appearing not to take on board mounting criticism of the U.S. tax evasion prevention law known as FATCA, which mandates that non-U.S. financial institutions provide personal data about their U.S. clients to U.S. officials on an annual basis, a European agency has told EU member states to consider a "review" of their international agreements "that involve international transfers of personal data, such as those relating to taxation (e.g. to the automatic exchange of personal data for tax purposes)."