Banks

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 […]
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Reporting under DAC 6? A five-step guide for banks

The deadlines for DAC 6 are approaching fast.  First reports will be due on 31 January 2021, and retroactive reports stretching back to 25 June 2018 have to be submitted by 28 February 2021. To avoid common pitfalls, and help you get started, we’ve outlined five key steps to get prepared for reporting. Step one: Determine your intermediary status DAC 6 i […]

Non-financial risk— moving away from traditional risk silos

Central banks have a new challenge on their radars: the task of examining frameworks used by financial institutions to manage non-financial risks (NFRs). The need to manage NFRs on top of traditional financial risks has become more evident and pressing than ever before, especially since the global financial crisis. Why? Primarily due to a track record of losses […]
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Six US tax compliance updates you NEED to know

QI, FATCA, CRS, MDR…whatever you’re dealing with, you can be sure that the topic of compliance is never far behind. With the constantly changing needs of regulators, new technological capabilities and frequent legal updates, compliance is an ever-shifting challenge. To stay ahead of the game, we attended a leading industry conference (the 31st Internation […]
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Clock is ticking – EBA draft Guideline on Loan Origination and Monitoring

Following this September’s public hearing on the draft Guidelines (GL) on loan origination and monitoring (EBA/CP/2019/04) at the European Banking Authority (EBA) headquarters, it is crucial for credit providers - including banks - to start implementing the GL (even before they are finalized) given the tight deadline. Here’s all you need to know to be ready […]
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ATAD 1 & 2 – Why banks need to sit up & take notice

Private equity players and alternative investors will likely be familiar with the acronym ATAD, but it might not be the case for those in Luxembourg’s banking sector. It is time, however, for them to get to grips with these four letters which stand for Anti-Tax Avoidance Directive. Why? Well, despite these new tax measures focusing primarily on unregulated […]
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