The joint head of wealth planning at Withers has warned the Common Reporting Standard’s information scheme is being implemented before proper consideration of the risks involved.

Filippo Noseda is looking for a test case to bring before the European Court of Justice with the hope that it may lead to the OECD rethinking the new rules, which require adopters of the CRS to start providing information to each other from 2017.

Mr Noseda said that his biggest concern is that “CRS exposes the great majority of tax-compliant indiv...