PRESS RELEASES

Fiduciary Trust’s Gail Cohen Addresses ACTEC Regarding Foreign Tax Compliance

03.13.2017

New York–March 13, 2017—Fiduciary Trust Company International, a global investment manager and wholly-owned subsidiary of Franklin Resources, Inc., today announced that Gail E. Cohen, Chair and General Trust Counsel, addressed the American College of Trust and Estate Counsel (ACTEC) at their 2017 annual meeting. The topic, which was jointly presented, was Tax Transparency and the Common Reporting Standard (CRS).

During this presentation Gail outlined similarities and differences between the Foreign Account Tax Compliance Act (FATCA) and the CRS. Both standards seek to ensure those with financial accounts in other jurisdictions have key data reported to the jurisdictions where they are taxpayers. FATCA is the reporting standard used by the United States and CRS is the recently-enacted standard used by 54 other jurisdictions. She also outlined the opportunities and threats of CRS for US advisers.

About Fiduciary Trust
Fiduciary Trust Company International, a global investment management firm, has served individuals, families, endowments and foundations since 1931. With over $76 billion in assets under administration and management as of December 31, 2016, the firm specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services. The firm and its subsidiaries maintain offices in New York, Coral Gables, FL, Boca Raton, FL, St. Petersburg, FL, Los Angeles, San Mateo, CA, Washington, D.C., Wilmington, DE, and London. For more information, please visit fiduciarytrust.com.

About Franklin Resources
Franklin Resources, Inc. (NYSE: BEN) is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes -- including equity, fixed income, alternative and custom solutions. The company's more than 650 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in over 30 countries, the California-based company has 70 years of investment experience and over $728 billion in assets under management as of January 31, 2017. For more information, please visit franklintempleton.com.

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