EU Business News February 2018

14 EU BUSINESS NEWS / Q1 2018 , Meet the Regulatory Team Through its audit, tax, and advisory services, KPMG Luxembourg works closely with clients to help themmitigate risks and grasp opportunities. We spoke to Anne-SophieMinaldo, Partner, about the firm’s regulatory services line. What challenges are businesses facing nowadays? Currently, governance, risk, and regulatory compliance continue to be the main challenges, and all three issues can be complex. There is also new laws and regulations that are being introduced regularly, with strict requirements for greater levels of transparency, objectivity, and professionalism. As well as an increased accountability and potential exposure to liability, which means that directors must ensure that corporate governance standards are adhered to and robust compliance management systems are in place. At KPMG Luxembourg, our regulatory team helps management to identify applicable laws and regulations, providing them with a better understanding of the environment in which their companies operate, ensuring that it is characterised by speedy, continuous change. Also, our approach combines an analysis of the legal and regulatory framework, together with an assessment of the company’s systems and processes, with the aim of ensuring compliance and sound corporate governance. What kinds of services are most notable? Here at KPMG Luxembourg, we offer governance framework design, internal audit services, board training (director responsibilities/obligations), “better practice” governance requirements, AML/KYC remediation, and anti-bribery/ anti-corruption. Also notable, is our regulatory impact diagnostic, for which we have developed a special tool, “Reg-I,”. This enables clients to easily access all the laws and regulations applicable to them specifically, and also to generate checklists 1802EU03 for controls and compliance assessments. Ultimately, our mission is to develop pragmatic solutions to regulatory requirements. In addition to our own tech-based offerings, we are also close to the wider regtech field, which is developing excitingly quickly. Naturally, part of our work is connecting our clients to the best regtech solutions. What characterises your team? The regulatory service line comprises 40 employees spanning 15 nationalities. Their range of backgrounds and experience enables us to thrive in a market, whose needs have become very complex. Our core values include respecting the individual, a collaborative mind set, curiosity, and innovation. It is of utmost importance that our people work together, and find the best combination of skills to face our client’s challenges. Ultimately, we work every day to deliver efficient, sustainable, and compliant solutions. Company: KPMG Luxembourg, Société coopérative Contact: Anne-Sophie Minaldo Address: 39, avenue John F. Kennedy – L-1855 Luxembourg Telephone: +352 / 22 51 51 7909 Website: www.kpmg.lu