Financial Services Webinar

CRD 6: Third Country Branches

Hogan Lovells' cross-border team would be delighted to have you join us for our CRD 6: Third Country Branches webinar at noon on 27 June 2024.

The revised EU Capital Requirements Directive (CRD 6) has been adopted and will enter into force shortly, with most of the changes expected to come into effect in 2026.  Among the key changes are provisions relating to "third country undertakings" - i.e. undertakings (and particularly banks) from outside the EU – who wish to provide deposit taking and/or lending services to customers and counterparties in the EU.  Such undertakings will be required under the CRD 6 to establish branches in the EU, and the branches of such undertakings will become subject to additional requirements and increased levels of supervision.

Our webinar will include:

  • An overview of the key changes – including understanding who is caught by the new rules, what business it applies to and what exemptions will be available.
  • The impact of CRD 6 on third country undertakings who do not currently have branches in the EU – including the possible removal of exemptions that they currently use and the need to establish a branch in the EU and apply for authorization from the local regulator.
  • The impact on existing third country branches in the EU.  Those branches will become subject to minimum standards at the level of EU law for the first time, which may mean complying with higher standards than currently apply to them.  We will also consider the different categories of branches under the CRD 6 rules and the different levels of obligations that will apply to them.
  • Understanding the EU's approach to third country branches that may pose systemic risks – and, in particular, whether third country undertakings may be required to establish a subsidiary in the EU rather than operate a branch.

We very much hope you are able to join us. Please register via the link below.

Register here

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