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 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.