FINANCIAL SERVICES

The financial services sector is in turmoil. The credit crunch had a profound impact, and for now we can only hope that the current debt crisis will not produce similar or even greater consequences.

Nevertheless, a focus on the future is bound to pay off. Targeted and strategic growth should be key considerations. However, to be successful in the new environment, banks, insurance companies, trust offices, pension funds, and regulators must face considerable challenges. They must mitigate traditional and emerging risks and win or regain the confidence of their customers while complying with the ever stricter laws and regulations.

Financial organizations are faced with regulations and supervision on a daily basis. Philip Sidney helps them meet all the relevant requirements. This prevents overcompliance as well as costly and inadequate remediation. Because our service provision focuses on what you need.

Our team combines over a century's experience in senior management and/or expert roles. We can provide you with valuable knowledge and expertise because we have experience on both sides of the spectrum. We know the backgrounds and objectives of regulators and the needs and interests of businesses and corporations that are active in a regulated sector.

Why should banks involved in expert financing consider export control and sanction regulations?

Banks that handle transactions related to the export of military or dual use goods have to meet national and international export control and sanction regulations. These regulations are complex in nature and subject to continuous change. And there are also international differences to take into account. All this makes it very difficult to ascertain whether a bank meets the various different national and international regulations, while violations are penalized with increasingly high fines.

Our team has amassed a wealth of experience in providing banks and companies with advice regarding compliance with export control and sanction regulations. We know what the regulations entail and how they are enforced on an international level. We can tell you which problems may arise and, more importantly, how they can be prevented. We can tell you everything about the content and application of the regulations that apply to your export financing activities. We provide you with insight into the possible consequences so you can take the right measures. A comforting outlook.

Richard Hoff, Partner
M: +31 (0)6 573 17 508
E: richard.hoff@philip-sidney.com