Anne-Sophie Minaldo

Anne-Sophie Minaldo

CSSF circular 20/759 shakes things up in the Board Room

In December 2020 the CSSF published circular 20/759 (an update of circular 12/552) on central administration, internal governance and risk management. It transposes (amongst others) EBA Guidelines 2017/11 on internal governance and joint EBA and ESMA Guidelines 2017/12 on suitability assessment of the members of the management body and key function holders. […]

Supervisory pressure is on as ECB publishes guide on climate-related and environmental risk

ESG - The acronym that’s taken the corporate world by storm as it continues to gain serious ground. It’s at the top of most corporate agendas, and financial institutions are no exception. In its recent guide on climate-related and environmental risk (published in November 2020), the European Central Bank (ECB) declares that approaching the topic of ESG fr […]

Business continuity in the Covid era: Considerations for Boards

On 29 April 2020, KPMG partners Anne-Sophie Minaldo and Laurent de la Vaissière took part in an ILA virtual panel on “Business Risk, Continuity & Protection" where they shared their insights on business continuity to help directors lead their organizations through the Covid-19 crisis. In this blog, they share their four-step guide for board members. &n […]

European authorities ask institutions to get ready for a “no deal” Brexit

The European Banking Authority’s (EBA) opinion on the preparations for the withdrawal of the United Kingdom (UK) from the European Union (EU), published on 25 June 2018, is a clear wake-up call for the financial sector. According to the EBA, there is a real risk that a ratified withdrawal agreement may not be reached despite the best efforts from both sides […]

New guidelines ask banks to rethink internal governance

The financial crisis was a wakeup call for the whole financial industry. Among other things, it highlighted weaknesses in banks’ internal governance frameworks that hugely affected their abilities to face adverse situations. In reaction, international supervisory authorities have increasingly been emphasising internal governance. And this emphasis is still […]

From the world of Luxembourg banking: five ways to improve your efficiency

We’ve recently been around the banking industry in Luxembourg collecting and compiling the latest edition of Banking Insights (available here). In the process we gleaned five ways to improve efficiency—here’s what Luxembourg’s bankers have been talking about: