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.
PwC Legal Business Solutions in Germany. More than 370 lawyers at 18 locations. Integrated, tech-powered legal advice.
About PwC Germany:
Our clients face diverse challenges, strive to put new ideas into practice and seek expert advice. They turn to us for comprehensive support and practical solutions that deliver maximum value. Whether for a global player, a family business or a public institution, we leverage all of our assets: experience, industry knowledge, high standards of quality, commitment to innovation and the resources of our expert network in 149 countries. Building a trusting and cooperative relationship with our clients is particularly important to us – the better we know and understand our clients’ needs, the more effectively we can support them.
PwC Germany. More than 15,000 dedicated people at 20 locations. €3.05 billion in turnover. The leading auditing and consulting firm in Germany.
