HMRC issued on 21 May a guidance note on the removal of “relevant holding company” and “treasury company” from the definition of a UK Financial Institution (UKFI) for the purposes of applying the UK agreements on the automatic exchange of information.  The instruments affected by the removal include the FATCA agreement with the United States, the UK/Crown Dependencies and Gibraltar agreement (CD and G), and the Multilateral Competent Authority agreement implementing the Common Reporting Standard (CRS), the latter taking effect for EU Member States under Council Directive 2011/16/EU. Click the following link for the issued guidance note.