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European Regulation Survey: The Impact of Brexit and BEPS

The Impact of Brexit and BEPS

The Maples group conducted a brief survey of its global client base to understand the expected impact of Brexit and BEPS, including the challenges and resulting implications for business operations.

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EU Risk Retention and the Impact on the Securitisation Market

Gain insight into EU risk retention requirements and how they apply to the UK securitisation market. 

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Maples Fiduciary Europe

Since the UK referendum on EU membership, there has been a large degree of uncertainty around the impact this will have on the UK and greater Europe as well as the potential ripple effects that will be felt globally. Further complicating matters is the impending implementation of the OECD’s BEPS project. 

With a presence in key financial centres across Europe and teams of local market experts, Maples Fiduciary is at the forefront of these developments and we are committed to proactively working with clients to address the wide range of complex issues Brexit and BEPS will present.

European Regulation Survey: The Impact of Brexit and BEPS

In light of the uncertainty Brexit and BEPS present, the Maples group conducted a survey to capture general market sentiment regarding the expected impact of this new paradigm, including the challenges and resulting implications for business operations.

Download Document

EU Risk Retention and the Impact on the Securitisation Market

The European Parliament, Council and Commission introduced a new regulatory framework for securitisation transactions in the EU which includes the concept of simple, transparent and standardised securitisation and provides for a set of common requirements for risk retention.

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Bespoke Support Driven by Our Global Expertise

With expert teams located in Ireland, Luxembourg, the Netherlands and the UK supported by a global network, clients can rest assured that Maples Fiduciary has the local market knowledge, international reach and range of solutions to effectively guide them in navigating the complexities of Europe’s evolving business landscape.

The following is an overview of our European fiduciary services that can assist clients in developing their plans to carry on business in the region as a result of Brexit and BEPS:

Directorships

  • Provide independent, non-executive directors resident in key financial jurisdictions to Irish, Luxembourg, Netherlands and UK entities with appropriate experience in all types of investment funds, structured finance vehicles and corporate entities.

General Partners

  • Provide directors or managing members to vehicles which can act as general partner.

Share Trustee

  • Act as share trustee to hold voting shares of an investment fund or special purpose vehicle on trust.

Proxy Agent and Power of Attorney

  • Serve as proxy for shareholders who are unable to attend shareholder meetings; and
  • Arrange for an appropriate power of attorney when required.

Incorporation and Corporate Services

  • Provide incorporation services to Irish, Luxembourg, Netherlands and UK entities;
  • Provide a registered office address and manage all local communications relating to the company;
  • Ensure all the statutory and regulatory filings are made and all ongoing corporate requirements are satisfied under the relevant laws and regulations;
  • Act as domiciliation agent in Luxembourg;
  • Prepare investor or other reports required by transaction documents; and
  • Arrange for ancillary day to day financial and administrative services.

Company Secretarial and Board Support Services

  • Act as the named company secretary and registered office, maintaining the statutory registers, minute books and seals;
  • Provide meeting facilities, initiate and attend board of director and annual general meetings either in person or via telephone;
  • Prepare and distribute agendas, board packs, minutes and action items to relevant parties;
  • Sign secretarial certificates, arrange the execution of agreements, liaise with third parties and provide copies of other documents prepared or retained by us as company secretary; and
  • Provide secure online access to entity data via our online portal, Maples eServices. Information available via Maples eServices includes key corporate records such as registers, memorandum and articles of association and transaction documents.

Accounting Services

  • Prepare GAAP and IFRS consolidated accounts;
  • Monitor obligations and prepare waterfall or other calculations required under the transaction documents;
  • Act as escrow agent and provide paying agent services;
  • Provide daily or monthly corporate/management accounting where required;
  • Prepare local tax compliance and filings; and
  • Liaise with auditor(s), where applicable.

Commodity Pool Operator

  • Serve as commodity pool operator on certain client commodity pools; and
  • Prepare financial reports for such commodity pools needing to comply with reporting and recordkeeping requirements of the Commodity Futures Trading Commission and National Futures Association.

Permanent Office Solutions

  • Provide offices for use by the client company; and
  • Assist with the procurement of employees to be contracted directly with the client company.

Regulatory and Compliance

  • Facilitate client compliance with FATCA and CRS, AIFMD, Form PF, EMIR and UCITS requirements;
  • Provide a money laundering reporting officer ("MLRO") and deputy MLRO for Irish vehicles;
  • Provide a compliance officer ("CO") and deputy CO for Irish vehicles;
  • Implement and monitor a risk based anti-money laundering ("AML") programme;
  • Manage the suspicious activity reporting process, liaise with regulatory authorities or investigative agencies and provide annual AML inspection;
  • Deliver relevant staff AML training; and
  • Conduct onsite operational due diligence reviews of investment managers and fund administrators our directors work with, generating a thorough, holistic report of general findings.

Liquidations

  • Provide dissolution of trusts and partnerships; and
  • Provide liquidation support services to Irish, Luxembourg, Netherlands and UK entities.

Listing Agency

  • Provide listing services for the Irish Stock Exchange.

AIFM and UCITS Management Services

MPMF Fund Management (Ireland) Limited ("MPMF") is a Central Bank of Ireland authorised alternative investment fund manager ("AIFM") and UCITS management company. MPMF provides services to alternative investment funds and UCITS funds that meet the ongoing obligations under the AIFM Directive and UCITS regulation.

MPMF provides flexible solutions to its clients through an experienced team which includes investment and risk management professionals and designated individuals with in-depth knowledge of finance and operations, regulatory and compliance matters. MPMF also utilises a combination of proprietary and industry leading technology for risk and regulatory reporting.

MaplesFS can also act as a local Facilities Agent in both the UK and in Ireland for alternative investment funds and UCITS.

Click here to visit MPMF’s dedicated webpage and learn more about their comprehensive suite of services.

Contacts

Dublin

Photo of Stephen O'Donnell
Regional Head of Fiduciary, Europe
Dublin
work, pref+353 (0)1 697 3244
cell+353 (0)86 172 3865

Photo of Catherine Lane
Senior Vice President
Dublin
work, pref+353 1 697 3215
cell+353 86 416 3839

London

Photo of Sam Ellis
Senior Vice President
London
work, pref+44 20 7466 1645
cell+44 7799 072 965

Luxembourg

Photo of Tom Davies
Regional Head of Fiduciary, Europe
Luxembourg
work, pref+352 26 68 62 33
cell+352 621 348 151

Netherlands

Photo of Jan Hendrik Siemssen
Senior Vice President
Netherlands
work, pref+31 20 570 6820
cell+31 623 798 401

Resource Hub

The following materials provide more information on our European fiduciary solutions.