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Compliance Risk Management Strategies in Belgium: Navigating a Complex Regulatory Landscape
The regulatory environment for financial services in Belgium has become increasingly complex, with a multitude of regulations to navigate. Financial institutions must be aware of and comply with numerous laws and regulations, including anti-money laundering and combating the financing of terrorism (AML/CFT), general data protection regulation (GDPR), e-privacy, third-party risk management, MiFID II, AssurMiFID, IDD, PSD2, CSDR, PRIIPS, ESG, and more.
Are You Up-to-Date on Regulatory Requirements?
Regulators have imposed significant fines within the industry in recent years, raising pressure and costs to comply. However, financial institutions can view this as an opportunity to preserve their organizational value and improve business opportunities by embedding a strong governance structure, reliable controls, and robust end-to-end monitoring mechanisms.
Why Compliance Matters
Compliance is not just a legal or regulatory concern; it is essential for financial institutions to create value for their customers. By having a well-managed compliance program in place, organizations can avoid fines and reputational damage while creating a positive impact on their bottom line.
How PwC Can Help
PwC’s highly qualified and experienced team of compliance professionals can assist your organization with regulatory obligations, from strategy to front-office activities, IT infrastructure, and product distribution channels. Our experts will help you anticipate changes in the regulatory environment and achieve your most challenging compliance goals.
Our Compliance Offerings
We offer a range of compliance services, including:
- Regulatory Strategy: Develop and implement effective regulatory strategies tailored to your organization’s needs.
- Compliance Diagnostic and Remediation: Identify and address compliance gaps through our comprehensive diagnostic and remediation process.
- Direct Support to Your Compliance Function: Provide dedicated support to your compliance team, ensuring seamless integration with your existing processes.
- Corporate Governance Assessment: Conduct thorough assessments of your corporate governance framework, identifying areas for improvement.
- On-Site Inspection Assistance: Assist you in preparing for on-site inspections and ensure that you are fully compliant with regulatory requirements.
- Assistance with License Application: Help you navigate the complex process of obtaining licenses and approvals from regulatory bodies.
- Ongoing Regulatory Awareness and Assistance: Stay up-to-date with changing regulations and receive ongoing support to ensure continued compliance.
Regulatory Technology (RegTech)
PwC can help you introduce innovative approaches to compliance using artificial intelligence, machine learning, and robotic process automation. Our experts will work closely with you to assess which solution best suits your company.
Tailored Approach
We understand that no two organizations are alike, and our gap analysis study will quickly identify where you stand compared to your competitors and regulatory requirements applicable to your organization.
End-to-End Solution
Our approach encompasses all applicable requirements from A to Z, including guidance, analysis, and practical implementation. We create regulatory awareness throughout your organization to ensure that compliance is a firmwide endeavor.
Expert Compliance Team
PwC’s compliance team consists of a diverse range of profiles with unique experience and flexibility to deploy well-rounded teams to suit your specific needs.
Global Network
We have a solid track record of international collaboration on cross-border projects, processes, and organizations subject to different regulations. Our global network provides unparalleled access to expertise and allows us to advise you on cross-border compliance topics.
The Market Abuse Regulation: Key Concepts and Challenges in Belgium
PwC can help you navigate the implementation of MAR within your Belgian financial institution, including key concepts such as insider dealing, market manipulation, and price-sensitive information. Our experts will assist you in establishing an effective MAR regime to ensure compliance with the regulation’s requirements.