Renate Prinz
Renate Prinz focusses her practice on corporate law, national and international mergers, and acquisitions (M&A) and corporate reorganizations. She also advises at the interface with financial regulatory aspects, especially in connection with corporate transactions and/or licensing issues. Renate is experienced in advising national and foreign investment companies, credit, and financial services institutions on all aspects of German and European financial supervisory law. She furthermore has extensive experience in acting for clients in the industrial, retail, and public sectors. Furthermore, Renate publishes in corporate and financial supervisory law on a regular basis.
An Overview of the New Consumer Credit Directive
Von Renate Prinz am Dec 6, 2024
Gepostet In EU
One year after the new EU Consumer Credit Directive (Directive 2023/2225) came into force, questions remain: When will it be implemented? What will be regulated? How is the business community reacting? The directive brings significant changes and extensions in an effort to strengthen consumer protection and meet the challenges of digitization. But does it really provide consumers with the desired added value and protection, or does it prevent innovative, successful business models – from which consumers benefit – via overregulation? Key Contents of the Directive The new directive significantly expands the scope of application for consumer credit and covers loans...
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Navigating EU Sanctions: How Investment Funds and Corporates Can Meet the ‘Best Efforts’ Standard
Von Renate Prinz am Dec 2, 2024
Gepostet In EU, Funds
Co-Authors: Raminta Dereskeviciute | Sabine Naugès | Michal Chajdukowski | Ludovica Rabitti With the introduction of the 14th sanctions package, entities established in the European Union are required to ‘undertake their best efforts to ensure’ that non-EU subsidiaries they own or control do not undermine EU Regulation 833/2014 imposing EU sanctions against Russia, or EU Regulation 765/2006 imposing EU sanctions against Belarus. This obligation stretches to EU citizens, including those located outside the European Union, who control corporate and fund structures around the world. The term ‘best efforts’ is not explicitly defined within the EU regulations. On November 22, 2024, the European Commission...
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The DORA Deadline – How to prepare, and how to use legal AI for DORA contract review
Von Renate Prinz am Nov 15, 2024
Gepostet In Dora, EU
Financial Services (FS) firms need to comply with the EU’s new Digital Operational Resilience Regulation (DORA) until January 17, 2025. Compliance isn’t optional, it’s the law. In this webinar, we spoke about what DORA meant for clients and how to use legal AI for contract review and remediation. The following topics were discussed: What DORA is and who it applies to What Financial Services firms need to do before January 2025 What contract review and remediation work needs to be done How McDermott uses legal AI with BRYTER Extract for DORA contract review and remediation. You can find a recording...
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DORA Check
Von Renate Prinz am Oct 31, 2024
Gepostet In Dora, EU
Digital threats and cyberattacks are increasing every year. In 2023, digital threats caused damages of more than €200 billion in Germany, of which 72% resulted from cyberattacks (source: Bitkom, study on economic protection 2023). To counter the threat to the system-critical financial sector, the EU has decided to implement a uniform, high level of security. The Digital Operational Resilience Act (DORA) is the answer. The regulation on digital operational resilience is intended to reduce the risks arising from the ever-increasing dependence on information and communication technology in the financial sector. In particular, DORA is expected to reduce the risk of...
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DORA takes effect: Digital resilience and cybersecurity in the EU
Von Renate Prinz am Oct 29, 2024
Gepostet In Dora, EU
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Dubai and Abu Dhabi Firms Involved in Crypto: Regulatory Pitfalls to Avoid When Dealing with EU or UK Clients
Von Renate Prinz am Sep 26, 2024
Gepostet In Crypto Regulation
Co-Authors: Vlad Maly | Michal Chajdukowski Continuing developments in the crypto regulatory sphere have significantly increased the attractiveness of Dubai and Abu Dhabi for crypto firms with global ambitions. Firms should remember, however, that they may also need to comply with the EU or UK crypto regulatory regimes, especially when engaging with clients or investors from these jurisdictions. In this article, we summarise recent crypto developments in the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM), and discuss the pitfalls crypto firms should avoid when dealing with EU or UK clients. Recent Crypto Developments in Dubai and Abu...
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BaFin Declines to Act Against PFOFs (For Now)
Von Renate Prinz and Frederic Peine am Apr 18, 2024
Gepostet In Banking Law
The Federal Financial Supervisory Authority (BaFin) will, for now, not take action against payments by third parties to investment firms (Wertpapierfirmen) for forwarding client orders (known as payment for order flow, or PFOF). In an announcement dated 22 March 2024 BaFin stated that, should investment firms violate the PFOF prohibition with domestic clients, it will refrain from taking measures or imposing sanctions until the completion of the national legislative process in Germany. The PFOF prohibition, as contained in the amended version of the Regulation (EU) No. 600/2014 of the European Parliament and of the Council (MiFIR), stipulates that investment firms...
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Compliance in focus: duties, challenges and competencies of the Management Board and Supervisory Board
Von Renate Prinz am Mar 15, 2024
Gepostet In Compliance, ESG
The webinar with our partner Renate Prinz focuses on the latest compliance challenges for executives and supervisory boards. It delves into essential topics that are highly relevant today, both for C-level executives and non-executives on governing bodies. We begin with a thorough introduction to current compliance requirements and the organization of compliance within the company. Explore key themes, including whistleblowing, anti-money laundering, the Supply Chain Due Diligence Act, and ESG. A central focus of the Passion for People webinar is understanding the specific responsibilities that board members and supervisory boards bear in this context, as well as effective ways to...
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Renate Prinz in FinExtra: “Non-Performing Loans are now subject to regulation: What it means.”
Von Renate Prinz am Mar 5, 2024
Gepostet In NPL
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Licence requirement for credit service providers – services for non-performing loans now require a licence
Von Renate Prinz am Feb 28, 2024
Gepostet In Banking Law, Financial Services, NPL
When the Secondary Credit Market Act (Kreditzweitmarktgesetz) came into force on 30 December 2023, services relating to non-performing loans, i.e. loans that are no longer being settled or are at risk of default, will require a licence. Companies that already provide credit services today had to register with BaFin in February and state that they will continue to provide these services and now have until April to submit a licence application. A transitional regulation will then apply to them, under which the services can initially still be provided without a licence. In addition, the sale of NPLs by credit institutions...
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