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The KYC burden on corporates

It is mandatory for financial institutions to investigate whether cash is being used for money laundering, financing terrorists and criminal activity. Criminals exploit any situation to pursue their damaging activities and the recent increase of cybercrime shows that the COVID-19 situation is no exception. The purpose of KYC (Know Your Customer) is to protect the global financial system from being used for fraudulent activities. Banks play a key role in identifying suspicious transactions. To determine whether a transaction is suspicious, banks need to know their clients and their possible changed activities. The flip side, however, is that the KYC burden on corporates has already increased since the previous (financial) crisis. Will the KYC burden further increase or are there ways to release the burden?

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Deadline for EMIR Refit on June 18th

Following the financial crisis that started over a decade ago, the European Union adopted the European Markets Infrastructure Regulation (EMIR) in 2012 to address shortcomings in the functioning of derivatives markets. The main objective of EMIR is to reduce systemic risk by increasing the transparency of the derivatives markets and to mitigate counterparty risk by requiring Over-the-counter (OTC) derivatives contracts to be cleared through Central Counterparties.

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Join Zanders in our co-development initiative for transfer pricing

The recent publication of the OECD transfer pricing guidelines creates a major shift in the pricing of intercompany financial transactions such as intercompany loans, financial guarantees, cash pools and in-house bank transactions. Treasury and tax professionals are strongly encouraged to revisit their current pricing methodology to ensure transfer pricing compliance. Therefore, on 2 June 2020, Zanders held a webinar on the impact of these new guidelines.

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Lease Accounting for Treasurers: 5 Lessons Learned

Challenges due to new lease accounting standard

On Wednesday 20 May, Zanders and the Association for Finance Professionals (AFP) held a webinar titled ‘Don’t get left behind: understand the incremental borrowing rate (IBR)’. The audience was updated on implementation and operational challenges that treasurers face due to the new lease accounting standard. We summarize the five lessons learned from the webinar.

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Monetary policy during these challenging Covid-19 crisis times

High levels of leverage make companies more vulnerable

The Covid-19 outbreak has put an enormous pressure on central banks to come up with a plan to save the global economy. While their focus is mainly on the same tools used in 2008, there are calls to revisit traditional monetary policies in light of the changed economic environment.

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