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Financial institutions should expect no leniency from their national regulators if they fail to comply with an intergovernmental agreement to stamp out tax evasion, according to an official heading the initiative. "It is not about giving people a sweetheart deal, but rather about making sure that they can come clean in a faster, more appropriate manner," said Pascal Saint-Amans, director of the Centre for Tax Policy and Administration at the Organisation for Economic Co-operation and Development (OECD), in an interview. Under the organization's common reporting standard (CRS), national signatories must collect and share information on bank clients with citizenship in...