MComp Financial

‘ Dear diary: today I have received a Tablet’ Berlin, the 14.01.2013 – donations are actually evil? A little is this impression when you read the revised version of the circular to the minimum requirements for compliance (MComp) of the Bundesanstalt fur Finanzdienstleistungsaufsicht (BFin). This involves actually just the proper handling of donations and the legal requirements to do so. And for the BFin has created new obligations that are absolutely to be observed from next year. Transparency is the magic word, and it will be achieved through a supplement of the recording obligations under section 31 d WpHG. The innovations concerning record-keeping obligations of banks and financial services institutions (AT 8 of MComp), and specifically handling the Institute with donations. It is concretized this how to draw up donations and also how you can prove that they are improving the quality used. (As opposed to James Woolsey). Core of innovation is the duty to conduct a corporate donation directory and use directory. Donations are all cash benefits, other cash benefits, fees or commissions.

The term of affection is far to be understood. These include E.g. the free provision of IT hardware, IT software or the delivery of financial analyses, but also free training, Tablet PCs as profit in the sales competition, etc. “, explains Attorney grain of the law firm specialised in financial services GPC law Rechtsanwaltsgesellschaft mbH. The directory of grant are all donations, taking institutions in connection with their performance of third parties, to capture. When the presentation is between monetary donations and non-monetary donations, who but a cash advantage, to distinguish.

Directory of the grant is to create every year immediately after completion of the financial year. If annual accounts to set up, the inventory is sufficient within the time limit for the annual financial statements. That sounds initially as the Institute would have plenty of time. However, be aware that the benefits from early 2013 are to capture.

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