Transfer Regulation for crypto assets is in force: Due to the increased risk of money laundering and terrorist financing in transactions with crypto assets, the corresponding application of the Money Transfer Regulation (GTVO) is ordered with effect from 01.10.2021. This will lead to new record-keeping requirements for crypto obligors as of...

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Obligation to notify outsourcing at securities institutions: What is to be observed? The auditor must report separately on outsourcing of material activities and processes, taking into account the requirements set out in section 40 of the Securities Institutions Act. In doing so, a statement must be made as to whether the classification of...

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MaRisk 6.0: What changes in outsourcing management? Detailed requirements are implemented from the Outsourcing Guidelines in section AT 9. The changes affect the entire outsourcing cycle. For example, requirements for risk analysis and determining materiality, for structuring the outsourcing agreement and for managing and monitoring the risks...

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Requirements for the risk controlling function. In the consultation process, the lack of a list of (contractual) parameters to be entered in the outsourcing register was also addressed. In order to remedy this and at the same time avoid deviations from the Outsourcing Guidelines in the implementation of this new legal requirement of 25 b para....

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