Food for Thought Online Event featuring Dr. Michael Born

Description

Invitation by Frankfurt Main Finance and Association of International Banks in Germany: Online Event featuring Dr. Michael Born.

Frankfurt Main Finance, together with the Association of International Banks in Germany, would like to invite you to the online event "Food for Thought", the virtual version of the well established financial center breakfast.

Dr. Michael Born

Counsel, Rechtsanwalt, Norton Rose Fulbright LLP, will address the topic of: CRD VI and BRUBEG – Navigating Germany’s new cross-border banking rules

Germany has transposed Directive (EU) 2024/1619 (CRD VI) into national law through the Banking Directive Implementation and Bureaucracy Relief Act (BRUBEG), bringing significant changes for third-country banks operating in the German market. Join us as we examine the practical implications of BRUBEG, including how the new framework reshapes cross-border banking activities in Germany and the broader EEA. Given Frankfurt's status as a leading international financial centre, these changes will have particular resonance for the many global institutions with operations in the region.

A key aspect of CRD VI is the harmonisation of the regulatory regime for cross-border banking services provided by institutions from non-EEA countries. The new third-country branch rules require non-EEA entities seeking to provide core banking services to establish a branch in the relevant member state and obtain authorization, unless the entity provides banking services through a subsidiary.

Accordingly, BRUBEG introduces significant amendments to the cross-border rules in the German Banking Act (KWG). Institutions headquartered in the UK, Switzerland, the US, Asia, or other non-EEA jurisdictions that provide banking services in Germany should anticipate material implications for their market access strategies.

We look forward to welcoming you to a timely and engaging discussion.