There is hardly any other industry currently facing such major regulatory challenges as the financial sector. The set of standards consisting of EU directives, directly applicable EU regulations, delegated acts, guidelines, national standards and European and national supervisory practices and their interaction is very complex. At the same time, compliance breaches are increasingly severely sanctioned. The legal protection of so-called ‘whistleblowers’ will make the detection of violations more likely in the future.
Traditional business models are being heavily impacted not only by customer behaviour changes supported by technological advances, particularly that of the younger generation – also known as ‘digital natives’ – but also by huge regulatory intervention. The commission bans under MiFID II and the significant capping on the revenues of card-issuing institutions are just two examples.
More than ever before, the banking industry requires new thinking and the development of innovative solutions. The special situation in which the finance industry now finds itself is also placing special demands on its legal advisers. The GSK Stockmann team is experienced in facing the challenges of this rapidly changing regulatory landscape. Well-coordinated and highly specialised, our team pursues an interdisciplinary, networked and highly innovative approach in developing resilient structures.
In the field of financial regulation, the GSK Stockmann team of highly specialised and experienced lawyers advises on a wide range of financial regulatory issues.