AML – How a small financial institution can be as compliant as a bank

The compliance legislation seems unambiguous – but that is not quite right. The purpose of the rules is clear – but the nuances make the correct application of the rules challenging in practice.
Compliance laws and regulations cannot be adapted for smaller financial institutions, but the way smaller institutions deal with them can.

The Dutch National Bank (DNB) scolded – founders DeGiro can be trusted

Wwft continues to occupy minds. The court overturns DNB’s earlier decision that founders of DeGiro are untrustworthy dismissing much of the evidence. At issue are six facts presented by DNB, which, by court order, may now not be used to prove any untrustworthiness of DeGiro’s founders.

bunq-ruling & The Prevention of Money Laundering and Terrorist Financing Act

The Prevention of Financing of Terrorism Act (Wwft) has a risk-based approach that requires institutions themselves to assess the relevant risks of a client and then put in place sufficient mitigating measures in return. Banks and financial institutions have armies of employees dealing with KYC and CDD on a daily basis. Where do you stand?

Edith Nordmann honoured with Outstanding Leadership Award

Edith Nordmann, Managing Partner & Attorney at Law at ACG International, was felicitated with the “Outstanding Leadership Award” at the Law 2.0 Conference for her exceptional contributions to the global legal sector. She was recognized before established industry professionals at the InterContinental, Dubai Festival City, UAE, on December 16–18, 2022.

Her exceptional contributions to the legal sector paved her way to receiving global recognition at the Law 2.0 Conference.

Doing business in Germany – what do you need to consider?

The German population is more than 83 million. And yet the German is not really mobile within the country. There is a strong attachment to the region itself. Germany has 16 provinces (‘Bundesländer’) and each Bundesland has its own particularities – also in terms of industry or business preferences.

No EU-Switzerland cooperation deal – what are the consequences?

After seven years of negotiations, Switzerland pulled the plug on 26 May 2021 of years of efforts to sign a historic partnership agreement with the EU. Due to ‘substantial differences on some key aspects’, further talks make no sense, according to the Swiss.