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Filippo Noseda featured in The American on FATCA

Posted on 18 September 2020

Filippo Noseda, Partner in the Private Tax & Wealth Planning team, has been featured in an article by The American on the EU Prioritising the Transatlantic Alliance at 2020 State of the Union.

The American mentioned Jenny's case and Filippo's concerns over data sharing between Europe and the United States. They wrote:

"In recent months, lawyer Filippo Noseda, working on behalf of a US/UK connected client known as 'Jenny', has been highlighting a number of concerns over the EU's approach to data security, and the compatibility of FATCA with GDPR data privacy rules. FATCA, the Foreign Account Tax Compliance Act, requires financial institutions to report data on US connected citizens back to the United States Government. Financial institutions based in Europe are required to comply with the Act due to existing US-EU agreements. In September 2019, Noseda's client, Jenny, explained why FATCA can complicate the lives of US connected citizens.

Mr Noseda has written a series of letters to various figures in the UK and EU regarding concerns over data sharing between Europe and the United States, at one stage arguing that FATCA is a "Data Privacy Disaster Waiting to Happen". With EU courts also ruling on existing frameworks for Transatlantic data sharing, via the so called Schrems II Ruling, von der Leyen's State of the Union address means that discussions over the future of FATCA in the European Union and the UK are likely to continue."

Read the full article here.

Further information

To find out further information on the data protection work by Mishcon de Reya and to read their correspondence to data protection authorities, click here.

To see the full list of hacking and data breaches recorded by Mishcon de Reya, click here.

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