Peter Knobl, partner at CERHA HEMPEL specialising in banking supervisory and capital markets law, has thrown domestic and foreign bank managers a life line by helping them stay afloat amidst a tsunami of EU regulations.
Those in need of a compact, comprehensible, quick and up-to-date overview of the practical application of Austrian banking supervisory law can find the information they need in the form of a Q&A document, current as of 1 October 2020 and downloadable from https://uk.practicallaw.thomsonreuters.com/w-007-5098. It not only covers the current legislation and the changes expected as a result of CRR II, CRD V, BRRD II and SRM Regulation II, but also provides a summary of the CRR Quick Fix Regulation and of the Austrian Investment Control Act that have only entered into force in 2020.
The updated guidelines that focus on Austria can thus serve as a way of navigating a path through the labyrinth of EU banking regulations. The guidelines are also a valuable aid both for domestic and foreign market participants, be they existing banks or newcomers, even for those from the FinTech sector.