IT Security Regulatory Update | July 2023
The July update focuses on DORA, IT operations in the context of the cloud, and the interplay between data protection and antitrust law.
ESG – Corporate Sustainability Reporting Directive (CSRD) concretized by EU/2022/2464
The CSRD is a proposed revision of the existing Non-Financial Reporting Directive being developed as part of the EU legislative process.
ESG – Capital Requirements Regulation (CRR) concretized by EU/2022/2453
However, disclosure obligations and ESG data collection requirements are gradually increasing in the coming years, which is described in more detail in the following article.
Integration of EBA guidelines into MaRisk
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
Why Corona wasn’t all bad – hybrid working at the ADWEKO campus.
If there is a “before 2020”, then there is also a “after 2020”; and here we can state that the pandemic, as many bad sides as it had, has definitely brought about a positive change for the working world.
SAP Certification Course TS410: Integrated Business Processes in SAP S/4HANA
Every company goes through a high number of different business processes every day. However, processes are often not integrated, which can lead to data breaks, for example.
ESG – Non Financial reporting Directive (NFRD) Extended by EU/2021/2178
The NFRD disclosure requirement has already been in place for large companies since 2014 (2014/95/EU).
Digital Operational Resilience | Status of Delegated Acts
The ESAs approached market participants with a discussion paper at the end of May 2023 to consider their input in advice to be submitted to the EU Commission by September 30, 2023. Addressed are critical ICT third-party service providers, specifically the criteria for their identification as well as the supervisory fees they are required to pay.
Christopher Thees becomes Director at ADWEKO
Since starting at ADWEKO in early 2021, he has been responsible for Finance as a Team and Division Leader and has made incredible progress since then. His tireless efforts, his qualities as a leader as well as the cultrual fit in the company are an enrichment for the whole ADWEKO.
It was therefore not surprising that Christopher was able to fully meet the high demands and ambitious expectations of the management and the Extended Board, and thus to commit himself to his new challenge.
ESG – EU Taxonomy – Definition of Environmental Targets
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.