From the current EU-regulations and from the specific changes of ESG-preferences in the Delegated Regulations of MiFID II and the Guidelines of ESMA, there is a requirement to document the sustainability factors/risks in the internal policies and procedures. And the extended selection process (extended by ESG factors/risks) has to be…
The Regulation (EU) 2019/2088 of the European Parliament and of the Council (SFDR Sustainable Finance Disclosure Regulation) requires a financial product’s documentation to describe how its stated levels of sustainability or sustainability ambitions (e.g. ESG factors = Environment, Social and Governance) are to be achieved or are achieved. As it…
Difficult times for banks. The existing business models are becoming less and less profitable and the new business models are either specified by the regulator or demanded by the customers. Gone are the days when banks could be successful as universal banks. A special business model (Banking as a Service)…