Over the past few months, we have been approached by several firms whether we have a tool or are (considering) building technology that can deal with compliance around the EU Mandatory Disclosure Rules. Our reply until now was: “We can build a tool for you if commission us to do so.” Despite all good intentions and efforts, we have not been able to find a launching partner due to missing internal approvals, ownership discussions, time and money investment, etc.

Despite the failed attempts to find a launching customer, we believe that there are sufficient intermediaries/customers out there that want to comply with the EU Mandatory Disclosure Rules. Due to all talks and requests, we are convinced that only a few firms are set to comply with the EU Mandatory Disclosure Rules. Many other firms are wondering how to comply and deal with questions such as, e.g.: 

  • Is my firm involved in and/or advising on reportable arrangements?
  • How do I keep track of reportable / non-reportable arrangements?
  • How do I know who is to disclose reportable arrangements?
  • What should I report?

We believe that many firms are struggling with the same issues as the firms we talked to … Our different thinking is therefore to bundle forces, intelligence and investment.

We want to build an MDR software solution for and together with you! How? We will explain in our upcoming outings! Stay tuned!

January 6, 2021 in Update

Brexit: UK reduces the scope of mandatory disclosure rules of DAC6

The UK transposed DAC6 into domestic legislation despite leaving the EU, which initially required UK-based intermediaries to disclose to the HMRC reportable arrangements if they were the promotor or service…
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