Online distribution and digital services have become an integral part of the world of sales. However, this is more than simply a matter of digitalising existing processes, as a particular set of specifications and requirements must be observed. These include not just technical challenges, but also the rapidly changing regulatory requirements.
Your challenges
Our solutions for you
- Preparing legally compliant internal and external client documentation in accordance with the German Securities Trading Act (WpHG), the Ordinance on Financial Investment Mediation (FinVermV) and Delegated Regulation (EU) 2017/565 (MiFID II)
- Legally compliant integration of ESG requirements
- Preparing and assisting in licensing and authorisation procedures pursuant to Section 32 of the German Banking Act, Section 15 of the German Securities Institutions Act and Section 34f of the German Trade, Commerce and Industry Regulation Act in consultation with the competent authorities
- Support for alternative structures via liability umbrellas or the future ECSP (European Crowdfunding Service Provider) Regulation
- Setting up a targeted and bundled search mechanism that is closely dovetailed with product governance implementation
- Establishing an effective data protection compliance structure, especially drafting data protection guidelines, data protection contracts, privacy policies for websites and social media plug-ins, as well ensuring technology is designed to be compliant with data protection law (“privacy by design”)
- Establishing an effective risk management system and introducing IT and cyber security functions for managing third-party providers as well as implementing regular threat-led penetration testing (TLPT) for IT services
- Developing a legally compliant, efficient and digital “Know Your Customer” (KYC) onboarding process
- Continuously adapting and drafting legally compliant contractual provisions in accordance with the statutory provisions regarding form, information and consumer protection