Economic Sectors

Implementing regulatory aspects

The re­gu­latory en­viron­ment for fi­nan­cial in­sti­tu­ti­ons con­stantly po­ses new chal­len­ges. Re­gu­la­ti­ons are be­com­ing ever more dense, chan­ge­able and com­plex. The many cir­cu­lars and gui­de­lines from re­gu­la­tors co­ver more and more ma­nage­ment ac­tivi­ties, and per­mit fe­wer and fe­wer ex­cep­ti­ons.

There is less to­lerance for in­frac­tions, which must be avo­ided. That’s why newly re­gu­la­ted mat­ters and con­di­ti­ons must be ana­ly­zed early to see how an in­di­vi­dual en­tity should ad­just, and to de­ve­lop im­ple­men­ta­tion stra­te­gies. We can as­sist you, for ex­am­ple, with

Implementing regulatory aspects© Thinkstock
  • Im­ple­men­ting Ba­sel III
  • Pre­pa­ring for Mi­FID II com­pli­ance
  • Or­ga­ni­zing com­pli­ance struc­tures un­der Ba­Fin’s Mi­ni­mum Com­pli­ance Re­qui­re­ments
  • Im­ple­men­ting amend­ments to the Mo­ney Laun­de­ring Act 

Ba­sel III will cer­tainly come, though it’s not clear ex­actly when. These re­gu­la­ti­ons will set new ca­pi­tal re­qui­re­ments for banks, no la­ter than 2014, and will in­crease banks’ hard core ca­pi­tal. The tran­si­tion pe­riods for in­tro­du­cing the fu­ture mi­ni­mum re­qui­re­ments and buil­ding up a ca­pi­tal buf­fer are short. We’ll be happy to help you with the ne­cessary steps. 

The re­vi­sed draft of the Mar­kets in Fi­nan­cial In­stru­ments Di­rec­tive (Mi­FID II) will once again tigh­ten the ru­les of play for the ent­ire fi­nan­cial ser­vices in­dus­try. This is in­ten­ded to fur­ther im­prove in­ves­tor pro­tec­tion, and will pres­um­ably ex­pand the num­ber of mat­ters sub­ject to per­mits. Mi­FID II will also fur­ther nar­row the re­mai­ning ex­cep­ti­ons for such en­ti­ties as dea­lers in mer­chan­dise. Alt­hough Mi­FID II is not ex­pec­ted to take ef­fect un­til 2014 or 2015, mar­ket par­ti­ci­pants who will be af­fec­ted must ad­just their pro­fes­sio­nal and tech­ni­cal pro­ces­ses ear­lier. There may be a need for ac­tion in al­most every as­pect of a se­cu­ri­ties ser­vice pro­vi­der’s va­lue chain. Have you al­re­ady pre­pa­red an im­ple­men­ta­tion plan, and be­gun the pro­cess? We’re re­ady to help.

Pre­ven­tive mea­su­res against mo­ney laun­de­ring and the fi­nan­cing of ter­ro­rism are im­port­ant ele­ments of fi­nan­cial in­sti­tu­ti­ons’ risk ma­nage­ment. The re­gu­latory re­qui­re­ments have re­cently un­der­gone a num­ber of amend­ments, im­po­sing ex­ten­sive pro­fes­sio­nal and con­cep­tual de­mands on every in­sti­tu­tion. The chan­ges will in­evi­ta­bly re­quire more in­vol­ve­ment of ma­nage­ment and staff at the cen­tral of­fice. We can help you im­ple­ment the chan­ges that are re­le­vant for your in­sti­tu­tion.

back to top