ALTAN and the funds it manages are subject to “Law 35/2003, of 4 November, on Undertakings for Collective Investment”.
In addition to the preceding regulation issued by the Ministry of Economy and Competitiveness, the Management Company and its funds under management are subject to additional regulations and regulatory bodies.
ALTAN and the funds it manages must regularly settle and send tax returns to the Spanish Tax Agency, the body charged with managing, inspecting and collecting taxes.
Furthermore, the provisions of the “Foreign Account Tax Compliance Act” (FATCA) adopted by the United States on 1 July 2014 have entered into effect. The aim of FATCA is to facilitate the inspection and collection of tax from U.S. taxpayers in order to prevent offshore tax evasion. The funds managed by ALTAN will operate with the following Global Intermediary Identification Numbers (GIIN) for the purposes of FATCA:
- ALTAN Funds: KUQKTM.00000.SP.724
The obligations of the institutions covered by FATCA can be found in the “Agreement between the United States of America and the Kingdom of Spain to improve international tax compliance and to implement the Foreign Account Tax Compliance Act – FATCA, entered into in Madrid on 14 May 2013” and in “Ministry of Taxation and Public Administrations Order HAP/1136/2014, of 30 June, regulating certain questions related to the information obligations and due diligence requirements imposed by the provisions of the agreement between the Kingdom of Spain and the United States of America to improve international tax compliance and to implement the U.S. law on tax compliance of foreign accounts and approving the annual return of financial information on specific accounts of certain U.S. persons, model 290”.
ANTI-MONEY LAUNDERING AND TERRORIST FINANCING PREVENTION
ALTAN Management Company must comply with all requirements set forth in the regulations in effect on this matter, and in particular with “Law 10/2010, of 28 April, on anti-money laundering and the prevention of terrorist financing” and “Royal Decree 304/2014, of 5 May, approving implementation of Law 10/2010, of 28 April, on anti-money laundering and the prevention of terrorist financing.”
SEPBLAC, a body of the Bank of Spain, is in charge of performing control functions. Additionally, the Management Company is audited annually by PricewaterhouseCoopers.
PROTECTION OF PERSONAL DATA
ALTAN complies with all provisions of Organic Law 15/1999, of 13 December, on the protection of personal data.