Global Subsidiary Governance Services Focus - Summer 2019
As we move into summer 2019, it’s a good time to reflect on some of the themes we’ve encountered in the first half of the year. So far, we’ve seen some familiar trends cropping up again in our conversations with clients.
The first of these ‘old friends’ is the growth of international regulation, which shows no sign of slowing down. If 2018 was memorable for the General Data Protection Regulation (GDPR), then this year looks set to be focused on DAC 6 – and in this newsletter we explore some of the key things to consider as you set about preparing your readiness for this recent legislation.
That doesn’t mean that GDPR has gone away though – far from it. One question that we keep hearing is how best to ensure that your third party partners or suppliers are also compliant with data protection policy and we have tackled that issue here as well.
The corollary of increasing regulatory complexity is that firms – whether multinationals, Private Equity (PE) or Real Estate (RE) funds – are looking to find ways to harmonize and simplify their governance and compliance operations. To this end we have included an article about how to simplify your supplier network as well as a piece on best practices in onboarding large portfolios with less stress and more speed. The latter article in particular is highly topical for us and comes out of recent contracts with a large multinational with a subsidiary portfolio of over 200 entities.
Lastly, as technology becomes an increasingly important part of the way we work at Citco, I’m pleased to say that our Global Subsidiary Governance Solutions (GSGS) is ahead of the curve – we have nearly completed the operational roll-out of our new task management system and we will be introducing its exciting new reporting capabilities to our clients shortly.Kariem Abdellatif, Head of Citco GSGSCitco GSGS Focus – Summer 2019