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.
You can download the publication here.
About PwC Legal Business Solutions:
In our global, rapidly changing business world, cooperation, restructuring, transactions, financing and social responsibility are topics that increasingly concern our clients. They need legal certainty for a wide range of complex tasks. That is why we advise them holistically and in close cooperation with PwC’s tax, human resources and finance experts and our international legal network in over 100 countries. Whether a globally active company, a public corporation or a wealthy private individual, every client has a personal contact at our firm who supports them responsibly in all matters of commercial law. In this way, we help our clients to secure their economic success in the long term.
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About PwC:
At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We’re a tech-forward, people-empowered network with more than 370,000 people in 149 countries. Across audit and assurance, tax and legal, deals and consulting we help build, accelerate and sustain momentum. Find out more at www.pwc.com.
In this document, PwC Germany refers to PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, which is a member firm of PricewaterhouseCoopers International Limited (PwCIL). Each member firm of PwCIL is a separate and independent legal entity.
The term PwC refers to the PwC network and/or one or more of the legally independent network companies. Further details can be found at www.pwc.com/structure.
