Category: Compliances
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Arguments for a More Stable Outlook
GRENKE AG, a global financing partner for small and medium-sized enterprises, generated net profit of EUR 20.5 million in the first quarter of 2022 (Q1 2021: EUR 14.0 million), corresponding to an increase of 46.8% compared to the first quarter of 2021. However, it is questionable whether this and the company’s results presented below are…
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Rating Agency Violates Disclosure of Transparency Reports and More
CRA Transparency Reports 2021 “Transparency Reports” of credit rating agencies (CRAs) are published in accordance with Article 12 and Annex I, Section E.III of the EU Regulation on Credit Rating Agencies: (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies, as amended by Regulation (EU)…
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Questionable Independence of a Rating After a Partnership Agreement
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Looking for a Rating Methodology – Where?
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First, ODDO BHF Takes the Chair, then the Scope Award
Conflicts of interest have arisen again at a local rating agency in Berlin.
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“EY puts Commerzbank in a mess”
Conflicts of interest wherever you look.
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Witnesses and Whistle Blowers
Whistleblowers and witnesses could be identified in the following positions:
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Some Point to ESMA’s Mandate
ESMA sometimes turns a blind eye: ignored calls for help.
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What About S&P’s Irannotice?
S&P Global Inc. international business activities must comport with U.S. international trade restraints, including economic sanctions regulations administered by the U.S. Treasury Department’s Office of Foreign Assets Controls. Pursuant to Section 13(r)(3) of the Securities Exchange Act of 1934, S&P Global Inc. (S&P) provides notice to the U.S. Securities and Exchange Commission that disclosure of…
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Forensic Rating Model to Identify Creative Accounting
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How to Run a Credit Reporting Agency in China
The People’s Bank of China issued a Draft for comments on “Measures for the Administration of Credit Investigation Services“. It is intended to regulate the credit investigation business and related activities, and promote the healthy development of the credit investigation industry. This is formulated in accordance with the “Civil Code of the People’s Republic of…
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FATF and BaFin Ratings
The European Union (EU) and Financial Action Task Force (FATF) lists countries with deficits in the fight against money laundering, terrorist financing and the financing of proliferation. The lists have far-reaching implications for country ratings and especially for ratings of financial service providers. FATF publishes a consolidated table of assessment ratings. On the basis of…
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Groundbreaking Multifunctional Monitoring and Surveillance System for Compliance with Corona Hygiene Protection Measures
Artec technologies AG (ISIN DE0005209589) is now offering a multifunctional monitoring and monitoring system for compliance with corona hygiene protection measures called MULTIEYE OverCrowding Watch App. The software is based on existing artec products that have proven themselves in practice with the support of AI-based software components. The listed software company from Diepholz, Germany, has…
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Separation of Product Comparison, Brokerage and Insurance Services
Any rating company who does not limit itselve to the comparison of financial services, but also insures the customer against risks, must obtain approval for this. There is no free market for financial services in Germany. The Federal Financial Supervisory Authority in Germany, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), ordered the CHECK24 comparison portal CHECK24 Vergleichsportal Finanzen…
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Professional and Personal Requirements for Persons Appointed as Management Board Members
The Federal Financial Supervisory Authority of Germany (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) provided a Guidance Notice on management board members pursuant to the German Banking Act (Kreditwesengesetz – KWG), the German Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz – ZAG) and the German Capital Investment Code (Kapitalanlagegesetzbuch – KAGB). The following introduces the approach how to check…
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U.S. SEC NRSRO
The Office of Credit Ratings (OCR) assists the U.S. Securities and Exchange Commission (US SEC) in executing its responsibility for protecting investors, promoting capital formation, and maintaining fair, orderly, and efficient markets through the oversight of Credit Rating Agencies registered with the Commission as Nationally Recognized Statistical Rating Organizations (NRSROs). In support of this mission,…
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KYC Risk Rating
Under strict Anti-Money Laundering (AML) regulations put in place by national governments, the European Union (EU), the Financial Action Task Force (FATF), and the United Nations (UN), all financial institutions and many types of companies are required to closely monitor their clients’ accounts and report any suspicious activity. These legal requirements often take the form…
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KYC Risk Rating
Under strict Anti-Money Laundering (AML) regulations put in place by national governments, the European Union (EU), the Financial Action Task Force (FATF), and the United Nations (UN), all financial institutions and many types of companies are required to closely monitor their clients’ accounts and report any suspicious activity. These legal requirements often take the form…
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