Baker McKenzie’s EMEA Tax Practice Group presented an overview on “Transfer Pricing”, the first in a series of short webinars to keep tax professionals abreast of recent developments in these less than certain times on 26 May 2020.
The Belgian Financial Services and Markets Authority (FSMA) published guidance on the rules in relation to distance marketing of financial services and products, mainly in light of the COVID-19 pandemic. The FSMA’s communication provides useful and practical guidance for financial services firms to consider when using remote sales techniques when marketing their products or services.
In this regulatory briefing, we consider the FSMA’s guidance and discuss the most important rules that must be taken into account by the financial services industry in this regard.
Financial technology, or fintech, has been transforming a wide range of financial services, receiving warm- welcomes by a fast growing number of adopters and attracting hundreds of billions of USD in global investment value in recent years. As at 30 September 2019, from only 0.4% in 2018, Vietnam rose to rank second in ASEAN in terms of fintech funding, attracting 36% of the regional investment, second only to Singapore with 51%. However, the financial areas transformed by fintech are quite limited, with 98% of the funding concentrated in the payment sector and 1% in blockchain tech related, according to a joint report by United Overseas Bank (UOB), PricewaterhouseCoopers (PwC) and (Singapore FinTech Association) SFA. Vietnam is still considered as having limited fintech activities and remains an unlikely home base of choice for fintech firms. One of the factors largely impacting the local fintech growth include an unprepared regulatory framework where regulations mostly evolve around fintech in the payment industry.
Following a recent announcement of the European Commission’s proposal for a three-month deferral of reporting deadlines under the new DAC6 mandatory disclosure regime in the EU and UK, the Committee of the Permanent Representatives of the Governments of the Member States to the European Union (COREPER) has now reached an agreement on a revised proposal which could possibly defer the reporting deadline for six months. On the basis that the draft Directive, once approved, may be adopted at the discretion of each member state, it is imperative that businesses do not delay in preparing to meet their existing compliance obligations should reporting dates not be deferred (or not be deferred in all Member States where they operate).
A tech-entwined world necessarily puts focus on technology companies and the opportunities that arise with them. TMT Talk, the Global TMT industry podcast, will help you navigate and prioritize via insights from top legal advisers in strategic technology markets. We’ll go into the issues, how they affect businesses, society, and the way players deal with them.
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