On January 14, 2021, the German Federal Financial Supervisory Authority (BaFin) published the draft of its guidelines on AML for credit institutions. The draft covers, among other things, the AML duties of credit institutions with regard to the establishment of the source of funds, the operation of monitoring systems, syndicated loans and trade finance; in this webinar, we will be covering the latter two issues together with our finance specialists. The comments on the duties of credit institutions with regard to investment funds are also particularly relevant for investment fund managers in their capacity as credit institutions’ clients. Other issues include real estate transactions, correspondent banking relationships and escrow accounts.
On December 23, 2020, the German Federal Ministry of Finance already published the first draft of the Act on the implementation of the European Financial Information Directive. Among other things, this law will introduce changes to the transparency register that will also affect investment fund managers.
We are looking forward to discussing the perspectives of different stakeholders in this virtual event.
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