Regulatory

Impairment of goodwill: will the IASB reintroduce previous requirements?

With the adoption of IFRS 3 Business Combinations in 2004, the International Accounting Standards Board (IASB) abolished the amortization of goodwill and introduced an impairment-only approach. In the years after the adoption, however, the Board soon noticed a couple of problems. Firstly, the mandatory impairment test is both costly and subjective. Secondly, imp […]
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EU Sustainable Finance explained

Riikka Sievänen, Senior Manager at KPMG in Finland, has written the following article about how to navigate the European Commission legislative proposals for sustainable finance. The original article can be read here.   Part I - An overview Megatrends, and particularly climate change, have become key topics on the agenda of corporates, investors […]
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The hot summer of alternative investments: Solvency II updates

Following the publication of the latest Solvency II amending regulation, the time is now ripe for (re)insurance companies to seize new opportunities in private equity and debt assets. After several months of preparation, the European Commission has recently published its amending regulation on Solvency II, the CDR (EU) 2019/981, effective as of early July 201 […]
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From fiction to reality to necessity: regtech’s world takeover

It was about two years ago that articles about regtech first began hitting newsstands. The financial world had been undergoing huge waves of new laws for about a decade, complex regulations usually accompanied by high penalties for non-compliance. The idea of these regulations was, generally, to make sure supervisory authorities had accurate documentation with w […]
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Five big updates on QI, FATCA, CRS, and MDR

Compliance is an ever-shifting challenge, given the changing needs of regulators, new technological capabilities, and frequent legal updates. To help you stay on top of everything, our team has compiled the most important insights from the field of operational taxes. We were inspired by discussions at a recent industry-leading conference[1] we attended, where ta […]
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Highlights (for insurers) from the 2019 Solvency II review

The recently published delegated regulation on Solvency II is an important one: if passed, it would allow insurers to remove disincentives for long-term investments, in support of the EU’s growth initiatives. It’s expected to become a European law in 2019. While some of its objectives have a direct impact on investments and standard formula parameters, other […]