Fidelity Bans U.S. Client Abroad from Buying Mutual Funds

Didn't mean to post a link to a subscription only site.  Here's a better one:

http://www.bloomberg.com/news/2014-07-0 … funds.html

Could it be that income/investment reporting requirements in many countries have become so onerous and pejorative that it's becoming increasingly difficult to invest outside of your own country? Could it be that nearly all governments are so broke that these financial reporting requirements are a kind of de facto capital controls? All your wealth are mine.

You might like this international version of FATCA:

Facing the Invasive Onset of GATCA, Take Human Action
http://www.thedailybell.com/news-analys … an-Action/

"47 Countries Endorse OECD's GATCA / CRS ... 47 countries and major financial centers on May 6, 2014 committed to automatic exchange of information between their jurisdictions, announced the OECD. All 34 OECD member countries, as well as Argentina, Brazil, China, Colombia, Costa Rica, India, Indonesia, Latvia, Lithuania, Malaysia, Saudi Arabia, Singapore and South Africa endorsed the Declaration on Automatic Exchange of Information in Tax Matters that was released at the May 6-7, 2014 Meeting of the OECD at a Ministerial Level."

gardener1 wrote:

Could it be that income/investment reporting requirements in many countries have become so onerous and pejorative that it's becoming increasingly difficult to invest outside of your own country? Could it be that nearly all governments are so broke that these financial reporting requirements are a kind of de facto capital controls? All your wealth are mine.

You might like this international version of FATCA:

Facing the Invasive Onset of GATCA, Take Human Action
http://www.thedailybell.com/news-analys … an-Action/

"47 Countries Endorse OECD's GATCA / CRS ... 47 countries and major financial centers on May 6, 2014 committed to automatic exchange of information between their jurisdictions, announced the OECD. All 34 OECD member countries, as well as Argentina, Brazil, China, Colombia, Costa Rica, India, Indonesia, Latvia, Lithuania, Malaysia, Saudi Arabia, Singapore and South Africa endorsed the Declaration on Automatic Exchange of Information in Tax Matters that was released at the May 6-7, 2014 Meeting of the OECD at a Ministerial Level."

Wow.  Very insightful article. I'm embarrassed I didn't see "GATCA" coming but it seems so clear it is.

Glad I could help.