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EY Law teams advise on all legal and regulatory, risk management, enforcement and compliance issues across multiple jurisdictions.
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In the digital realm, this year has seen significant strides in shaping the European legal framework. While FINMA's staking clarification provides vital insights, the digital franc project has entered its third phase, marking a pivotal moment in digital currency innovation. Alongside, MiCA and DORA consultations signal active implementation, while developments in the AI Act have led to the first deal in AI regulation, highlighting progress in comprehensive AI regulations.
Recent developments in tax include the introduction of OECD/G20 minimum tax rate, an online obligation for VAT registration and reporting, an additional OECD-guidance on Pillar Two with further detail on the Transitional Country-by-Country Reporting Safe Harbor and an upcoming inclusion of crypto assets in the international automatic exchange of information in tax matters.
Lastly, further topics are covered under the heading “Miscellanea”, such as the improvement of the processes in the commercial register and the Federal Law on relieving companies of regulatory costs.
Thanks to our deep understanding of these topics, EY can help financial services organizations to keep pace and maintain excellence in an increasingly digital, complex and interconnected world.
Read Regulatory highlights in the financial services sector – Winter 2023/2024 edition.
A special thanks goes to the EY Law team Silvia Devulder, Heidi Gysi, Konrad Meier, Isabelle Holliger-Weber, Tatiana Kovalenko, Aylin Erkelet, Onerva Härmä, Maxime Ochrymowicz, Tobias Mahrer, Bratislav Martinovic as well as to Christophe Adank from the EY Tax team for their excellent cooperation and valuable contributions.