In the past three articles, we have looked at topics that already exist or are currently being implemented. We would like to use the end of the year to look ahead.
On June 29, 2023, Bafin published what is now the 7th amendment to the “Minimum Requirements for Risk Management – MaRisk” framework, which has been in place since 2005. We briefly summarize the contents for you:
Key content of the EBA guidelines on lending and monitoring (EBA/GL/2020/06) is incorporated into MaRisk, in part as references to the guidelines themselves, while maintaining proportionality. This includes but is not limited to
The EU taxonomy, more precisely Regulation EU/2020/852, establishes the basis for assessing the sustainability of economic activities, with a classification system allowing to classify whether the desired sustainability of the investment is given.
The Data Point Model (DPM), as it is known in its current version, was already designed by the EBA and EIOPA in 2012 and further developed independently of each other. However, little has changed in the basic structure during this time.
Sustainability gains importance. Annual meeting surveys implementation status with banking supervisory authorities.
The focus of the November update is on the notification regulations, which must be used to report outsourcings to BaFin
Our partnership has the goal to contribute to the introduction of the platform on the customer side and to work together on further use cases / application possibilities.
When it comes to compliance issues, the question is usually where to start, where to stop?
Cyber risks and IT security are increasingly in the focus of supervision with new technologies on the rise. Consequently, the German Federal Financial Supervisory Authority (BaFin) published its Insurance Supervisory Requirements for IT (VAIT) on March 3, 2022, thus bringing them into force.