Global Subsidiary Governance Service Foreword

2018 has proven a busy year for regulators and corporate compliance teams alike, providing an opportune moment for us to send out our Citco GSGS Newsletter.

GDPR has been ushered in and the European Parliament adopted the 5th Anti-Money Laundering Directive to make it harder for criminals and terrorists to filter money through the European Union’s financial institutions. As regulatory complexity increases, the difficulty of maintaining compliance across all corporate entities internationally grows exponentially. It is no longer possible to ignore subsidiary governance.

When we speak with General Counsels and our company secretarial contacts across the world, it is clear that subsidiary governance is becoming its own discipline. Not only are best practices becoming more crystallised but there has been significant improvement in the technology available to support them. Soon there will be tech that enables you to connect your data to your workflows and transform it into meaningful insight. This will provide better clarity than ever across all entities, statuses and workflows, allowing for more complete subsidiary governance across a worldwide portfolio.

One important practice discussed in the Newsletter, is the Compliance Health Check (CHC) developed and pioneered by Citco. The CHC is designed to spot any failures, dangers or potential problems in your corporate structure, ensuring that any issues can be triaged and addressed. Every entity is covered and full compliance assured.

We hope you enjoy this edition of our Newsletter and find it useful; and we look forward to seeing many of you at one of our events around the world in coming months.

Citco GSGS Focus, Winter 2019