The definitions are very specific.
Financial Interest in both cases requires the person, or the person serving as a representative, to be the Legal Owner or the Owner of Record. In this case, the Foundation is both the Legal Owner and the Owner of Record, where Owner of Record is defined as: "the person(s) who, according to the public records, is/are the owner(s) of a particular property."
Signature Authority is the ability to control the disposition of money or other assets in the account by directly contacting the bank, which in this case lies solely with the protector.
"Other authority exists in a person who can exercise comparable power over an account by direct communication to the bank or other person with whom the account is maintained, either orally or by some other means." In this case, no one can directly contact HSBC (the bank with whom the account is maintained), and control the disposition of any of the Foundation's assets. It is possible to contact the Foundation to withdraw assets, but it is entirely up to the protector's discretion as to whether or not to relinquish such assets... not quite the same as a bank account. Thus, it is a privilege, not authority.
If you have 'Signature or Other Authority' over the Foundation's account, then I am sure that there are some folks here who would like to talk with you about authorizing wire transfers.
PDR's represent the beneficial ownership of assets that are legally owned by Fundacion Pan America. They are essentially virtual receipts that represent underlying value, without having intrinsic value. And, there are no physical sub-accounts within the Foundation; there is only one main account wherein all of the Foundation's assets are pooled. The PDR Exchange functions as an interface to keep track of the beneficial ownership of such assets, but even the money is legally owned by the Foundation. Financial Interest does not return to the beneficiary until such time that they receive assets from the Foundation, whereupon the beneficiary would be responsible to pay any and all taxes.
However, prepaid debit cards would be considered a physical account, and would have to be declared if the value exceeded $10,000.
Fundacion Pan America was established for the express purpose of protecting and conserving beneficiaries' wealth, while maintaining their privacy. Everything that they have done is in full compliance with all relevant regulatory agencies, and they have never promoted a tax evasion scheme.
Consult your own tax attorney.
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