Financial Services

PwC, PwC Legal and Association of Foreign Banks publishes 7th Edition of “Banking Business in Germany”

Frankfurt, 7th November 2023

Now in its 7th edition, the experts from  PwC Germany, PricewaterhouseCoopers Legal AG Rechtsanwaltsgesellschaft (PwC Legal) and the Association of Foreign Banks have published “Banking Business in Germany”. As in prior editions, the practical guide in English language focuses on relevant considerations for financial services firms expanding their regulatory footprint into the German and European banking market. In addition, it also contains key points that are relevant for investment firms, payment service providers and other regulated entities. In the new edition, the book also includes new chapters on ESG and digital assets.

As in previous years, PwC Legal’s Financial Services team around Partner Dr Michael Huertas and Senior Manager Maxi Wilkowski were jointly responsible for preparing the chapters "Market Access to Germany - legal and regulatory implications" and "Reporting requirements".

In connection with the establishment or acquisition of a regulated entity in Germany or Europe, relevant parties must complete an extensive licensing process in which numerous documents must be prepared and submitted. In this context, the necessary suitability test of the designated managing directors of a regulated firm along with the compilation of documents detailing the qualified shareholders of a regulated firm are key aspects. In the current edition of "Banking Business in Germany", PwC Legal provides practical advice on how best to deal with these and other issues in order to successfully complete a regulatory license and/or change in control process along with other relevant points of engagement with supervisory authorities.

Regulated firms are subject to numerous regulatory requirements once they have been established. These include obligations in connection with regulatory and statistical reporting.

In practice, we experience time and again how challenging these issues can be and provide readers of the 7th edition with key insights of how firms can approach these aspects in a structured manner and what practical aspects may warrant further consideration.

Dr. Michael Huertas

Financial Services Legal Leader - Global Legal Network, Financial Services Legal Leader Europe, Head of the Financial Institutions Regulatory Europe Team, Head of Legal Financial Services Germany

You can download the publication here.

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