Germany

Topic: Enforcement

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Money laundering prevention within the German real estate sector

In recent years, Germany has increasingly focused on implementing regulations and provisions linked to money laundering prevention. In doing so, Germany has followed EU requirements including the recently passed 5th Anti-Money Laundering Directive (Directive [EU] 2018/843 of 30 May 2018). Whereas both EU and German legislation have been traditionally focused on the prevention of the … Continue Reading

ESMA announces enforcement priorities for 2019 financial statements

On 22 October 2019, the European Securities and Markets Authority (ESMA) published a statement outlining its priorities for European enforcers to consider when examining the 2019 financial reports of listed companies. The common enforcement priorities related to 2019 IFRS financial statements include: specific issues related to IFRS 16 Leases; follow-up of specific issues related to … Continue Reading

Wolfsberg Group publishes new guidance on how FIs should carry out sanctions screening

On 21 January 2019, the Wolfsberg Group published new guidance on how financial institutions (FIs) should carry out sanctions screening. The fundamentals of the guidance are derived from legal/regulatory requirements, as well as expectations and global industry best practice. It is not intended to suggest that all FIs should apply all elements in the guidance … Continue Reading
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