Also below are additional news reports, documenting the unusual, uncoditional submission of Bank of Israel's Stanley Fischer to United States sovreignty. In fact, older news reports suggest that the unconditional submission of Bank of Israel's Stanley Fischer was secured even before FATCA was enacted.
It is not unthinkable that Stanley Fischer was also privy to the drafting of the act itself.
12-12-11 PRESS RELEASE – FATCA, Stanley Fischer in the High Court of Justice of the State of Israel – notice of withdrawal from incompetent process
12-12-11 PRESS RELEASE – FATCA, Stanley Fischer in the High Court of Justice of the State of Israel…
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12-12-11 PRESS RELEASE – FATCA, Stanley Fischer in the High Court of Justice of the State of Israel – notice of withdrawal from incompetent process
12-12-11 PRESS RELEASE – FATCA, Stanley Fischer in the High Court of Justice of the State of Israel – notice of withdrawal from incompetent process
[Hebrew below // עברית להלן]
The listing in the online public access system of the Court under the petition Zernik v Fischer increasingly appears confusing, if not false and misleading. Following refusal of the Chief Clerk to respond on request for corrective actions, the records should be deemed false and deliberately misleading. The underlying petition asks to compel Stanley Fischer, Governor of the Bank of Israel, to perform his duties, relative to unlawful conduct of Israeli banks in response to the United States FATCA. The petition alleges that Stanley Fischer replaced his loyalty to the State of Israel and its laws with loyalty to another nation and its laws, or with loyalty to financial institutions and their interests. The Human Rights Alert (NGO) 2013 submission to the United Nations documents numerous falsified decision records in the Supreme Court, and a Chief Clerk- Sarah Lifschitz - who occupies her office for a decade with no lawful appointment record. Conditions documented in the petition and its processing, both in Bank of Israel and in the Supreme Court should, raise concerns regarding integrity and stability of the Israeli financial system.
Stanley Fischer, Governor of the Bank of Israel - Israel’s Banking Regulator and Bilderberg Member, showing off his newly acquired Israeli ID in 2005; Supreme Court of the State of Israel, FATCA.
View as PDF: http://www.scribd.com/doc/116419071/
View as blog post: http://inproperinla.blogspot.co.il/2012/12/12-12-11-press-release-fatca-stanley.html
Jerusalem, December 11 – Joseph Zernik, PhD, of Human Rights Alert (NGO), has forwarded a notice of withdrawal from incompetent process to Chief Clerk Sarah Lifschitz and Magistrate Liat BenMelech of the Supreme Court of the State of Israel. The notice pertains to the petition Dr Joseph Zernik v Governor of the Bank of Israel Stanley Fischer(HCJ 7650/12).
READ MORE:
13-01-03 Stanley Fischer, FATCA, and Israeli banking regulation
12-12-27 PRESS RELEASE – FATCA, Stanley Fischer, and "Chief Clerk" Sarah Lifschitz in the High Court of Justice of the State of Israel
12-12-11 PRESS RELEASE – FATCA, Stanley Fischer in the High Court of Justice of the State of Israel – notice of withdrawal from incompetent process
12-11-15 PRESS RELEASE – Zernik v Stanley Fischer in the High Court of Justice of the State of Israel – request for certification of docket
12-10-31 Zimbio.com picked up the story on Stanley Fischer and the Supreme Court of the State of Israel
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Israel seeks tax pact with US on FATCA
The Finance Ministry is in talks with the US Department of the Treasury on reciprocal transfer of bank account information.
12 December 12 17:10, Irit Avissar and Adrian Filut
Sources inform ''Globes'' that the Ministry of Finance is working to sign an agreement with the US Department of the Treasury on the transfer of information on the bank accounts of foreign nationals in the two countries. Last week, Israel Tax Authority director general Doron Arbeli met Internal Revenue Service (IRS) acting commissioner Steven Miller as part of this effort. If an agreement is signed, an organization will be established which will be responsible for the transfer of the necessary information to the US, and the IRS will send to Israel details about the bank accounts of Israelis residing in the US.
The Ministry of Finance is trying to help Israeli banks deal with strict US regulations under the Foreign Account Tax Compliance Act (FATCA), which applies to US citizens residing overseas. Under FATCA, banks in other countries, including Israeli banks, are required to provide the IRS with lists of accounts of US citizens, details of the accounts, and declarations that they have paid the required taxes. If there is a problem with a customer, the IRS will impose sanctions against the bank.
FATCA is draconian, and banks around the world have sharply criticized it. One way of dealing with the law's requirements is an agreement by a country to cooperate with the US. Such an agreement will allow local banks to send bank account details to the local government, which will deal with the US authorities.
The Ministry of Finance entered the picture after lobbying of the ministry andBank of Israel by the banks and by the Association of Banks in Israel. In August, the Ministry of Finance set up a committee to review implementing the regulations in Israel. Committee members came from the Ministry of Finance, the Ministry of Justice, the Bank of Israel, and the Israel Securities Authority.
The Israeli government had three options: the first was not to intervene, and let the banks sign agreements directly with the IRS; the second was to apply the Swiss and Japanese model of a direct agreement between the banks and the US with government intervention if needed; and the third option was based on the agreement between the US and the UK, under which the local government assumes full responsibility for the domestic banks, signs an agreement with them and signs an agreement with the US.
The banks preferred the third option, which would expose the banks only to the Israeli regulator, which they know, and which is considered less aggressive than the US regulator. However, this requires the Israeli banks to disclose customer information to the Israeli authorities.
Changes in banking confidentiality
A US Department of the Treasury document published in November states that the US administration was in talks with Israel's Ministry of Finance to draw up an agreement, under which the US authorities would also provide the Israeli authorities with information about the bank accounts of Israeli citizens residing in the US. The US is in similar talks with Argentina, Hungary, New Zealand, and South Korea. The signing of such an agreement would require the Ministry of Finance to establish a special department, which will require substantial resources.
The agreement will not be symmetrical. The US will be required to transfer less information than the Israelis will have to provide, but even partial information will help the Israeli government fight tax evasion by Israelis in the US.
Ministry of Finance sources say that it is worthwhile to exploit the opportunity to make a substantial change for all bank accounts in Israel to include the transfer of details of the accounts and dramatically escalate the war against tax evasion and money laundering in Israel. This will require regulatory changes concerning banking confidentiality. "This egg has not yet been laid, but all the options are open," said a senior Ministry of Finance official.
This idea will likely face fierce opposition from many parties, including the Ministry of Justice and the banks.
Published by Globes [online], Israel business news - www.globes-online.com - on December 12, 2012
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Israel may seek special treatment on FATCA
12 April 2012
Israel's government may ask the USA for an arrangement to ease the impact of the US Foreign Account Tax Compliance Act (FATCA).
The country is estimated to be home to 100,000 American citizens, many of whom have not been to the USA for years and have little contact with it. However, under FATCA's onerous disclosure provisions, their Israeli bankers will have to establish their citizenship and report their financial affairs to the USA Internal Revenue Service.
According to the Tel Aviv newspaper Haaretz, Israeli banks are already writing to their USA-national clients to warn them of the bank's FATCA reporting obligations. One such bank - Leumi - has apparently told clients with USA citizenship that their accounts will be frozen at the beginning of May unless they confirm that the IRS knows about their bank accounts in Israel.
Another bank, Hapoalim, has also requested American customers to make the same declaration, while other banks are even asking clients to provide documentary proof of their USA tax compliance.
Although FATCA's provisions do not begin to take effect until January 2013, this frenzy of activity is understandable given the large number of people affected - a far greater proportion of the population than in any other country, perhaps excepting Canada.
The Association of Banks in Israel has already asked the Bank of Israel (the country's central bank) for guidance. Though the BoI has not yet officially responded, Haaretz says its governor, Stanley Fischer, is considering asking the cabinet to reach a tax agreement with the USA to minimise the disruption caused by FATCA. This, it says, could be similar to the deal already negotiated between the USA and the five largest European economies, under which individual foreign banks need not deal directly with the IRS but can obtain FATCA-compliant status through their own governments.
Sources
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HAARETZ
Stanley Fischer Photo by Tomer Appelbaum
THIS STORY IS BY
Sivan Aizescu
Bank of Israel Governor Stanley Fischer is considering asking the cabinet to reach a tax agreement with the United States to calm Israeli banks about strict new U.S. tax regulations on Americans living abroad.
The U.S. Foreign Account Tax Compliance Act takes effect at the beginning of 2013. The United States is demanding that banks throughout the world report Americans' financial activities to the Internal Revenue Service. FATCA threatens severe sanctions against banks that do not adhere to its requirements.
Bank Leumi has already told its American clients that they must declare by the end of April that they have reported their bank accounts to the U.S. tax authorities. Leumi warned that their Israeli accounts would be frozen at the beginning of May if they failed to do so.
The ultimatum, made last week to clients who hold U.S. citizenship or are U.S. residents, was meant to put the bank in step with FATCA, even if the Bank of Israel has yet to issue regulations on the matter.
Bank Hapoalim, too, has asked customers who are U.S. citizens to declare that they are reporting properly to the IRS. It seems some Israeli banks have even asked such customers for documentation that they are reporting properly to the U.S. authorities.
According to current estimates, more than 100,000 U.S. citizens live in Israel.
But implementing the U.S. demands without explicit instructions from the Bank of Israel exposes Israeli banks to sticky issues regarding client confidentiality. Last month, the Association of Banks in Israel asked the Bank of Israel's banks supervisor to issue instructions on how to proceed vis-a-vis the new law; the banks would prefer to act under an explicit Bank of Israel directive. The central bank has yet to issue any instructions on the matter.
Ido Yad Shalom, the director of the regulation unit at the banking supervision division, has told Ehud Kisch, an accountant specializing in U.S.-Israeli tax issues, of the central bank's intentions. Kisch had asked the Bank of Israel to intervene in the matter.
Yad Shalom wrote in a letter that the central bank "is currently studying the matter and will make its recommendations, if necessary, to the relevant government authorities."
Five European countries have already signed agreements with the United States on FATCA compliance: France, Britain, Spain, Italy and Germany. As a result, banks in those countries do not have to reach separate agreements with the IRS.
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http://isaacbrocksociety.ca
Liberty and justice for all United States persons abroad
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VIDEOS.COM
FATCA, Stanley Fischer In The High Court Of Justice Of The State Of Israel – Request For Certification Of Docket
November 15, 2012 from Liveleak
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DARK TUBE
PRESS RELEASE – FATCA, Stanley Fischer, and "Chief Clerk" Sarah Lifschitz in the High Court of Justice of the State of Israel
DARKTube.orgExtended free video search!Description
PRESS RELEASE FATCA, Stanley Fischer,
and "Chief Clerk" Sarah Lifschitz in the High Court of Justice of
the State of Israel עברית להלן ] A letter by "Chief Clerk" Sarah
Lifschitz i
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DARK TUBE
Stanley Fischer and FATCA - secret consumer complaint process in Israeli banking regulation
DARKTube.orgExtended free video search!Description
For months, Bank of Israel's Stanley
Fischer refused to respond on inquiries regarding the disposition
of complaint against Bank HaPoalim's for its unlawful FATCA-related
conduct. Recent conversation
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VIDEO ROLLS
12-11-04 FATCA, Stanley Fischer in the High Court of Justice of the State of Israel
Description
In Zernik v Fischer (7650-12), petition to compel Stanley Fischer, Governor of the Bank of Israel to perform his duties, Petitioner Zernik alleges that through unconditional submission to FATCA, S
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