We consider maintaining strong relationships with relevant regulatory authorities an essential part of effective service provision to our clients in the financial markets regulatory practice area. Since becoming operational, the Single Supervisory Mechanism (the system of cooperation between the ECB and national competent authorities that is one of the pillars of the EU Banking Union), has added an important dimension to maintaining these relationships for our bank clients. The ECB has taken on direct prudential supervision of significant banks in the Eurozone. In addition, the ECB has become the competent regulatory authority in the areas of licensing and the prudential assessment of acquisitions, also where less significant banks are concerned. To be able to continue providing services in all these areas to our clients in the most effective way, we have set up a hub in Frankfurt. It is located in the offices of Hengeler Mueller, a leading German law firm and part of our Best Friends network.
The Frankfurt hub enables us to more efficiently advise on bank regulatory matters arising in M&A and capital market transactions, restructurings, and supervisory investigations that require regular contact with the ECB. From this hub, our bank regulatory experts can offer any required pan-European advice to our bank clients. The Frankfurt hub brings us very close to the ECB, more easily facilitating meetings of clients, members of the Best Friends network and ECB officials, and enabling clients to take part in discussions about their recent experiences with the ECB and Best Friends client events right in the EU bank regulatory centre of gravity.
For more information please contact Mariken van Loopik.