Past Events

Impact of the BEPS Action Plan on the Banking Sector

Ms. Akemi Kitou,  Tax Partner – Financial Services

Ms. Ryann Thomas, Tax Partner—International Tax Services

PWC Tax Japan

As the OECD recommendations for base erosion and profit shifting (BEPS) are taking shape, there has been a lot of general information made available.

In Japan, the information has primarily been focused on Action 13 of the action plan, related to transfer pricing documentation and country-by-country reporting. However, there has been less information on what are the implications of the BEPS plan for banks beyond Action 13.

This presentation will provide the most recent updates to the BEPS agenda, with specific focus on issues that will have the greatest impact on the banking sector both globally and in Japan, including:

· Permanent Establishments (Action 7)

· Intangibles (Action 8)

· Risk and Capital (Action 9)

Recovery and Resolution Planning - Prospects for Asia and Japan

Mr. Royce Miller, Partner, Head of Asia Financial Services Practice

Mr. Shinsuke Kobayashi, Counsel, Corporate Finance Practice

Freshfields Bruckhaus Deringer

Since the recent global financial crisis, new global regulatory tools have been developed to try to ensure that there will never again be financial institutions that are “too big to fail” and need to be bailed out by governments.   One of the main tools is recovery and resolution plans, which are also known as RRP or living wills.

To date there has not been much RRP activity required in Japan or the rest of Asia for institutions that are not headquartered here.  This is changing quickly, and a lot of Asian subsidiaries/branches that are parts of international financial groups are having to consider RRP issues and in some cases even come up with local recovery and resolution plans.

Two experts from Freshfields Bruckhaus Deringer will present on the  current status of RRP activities in Asia and Japan including:

· The Financial Stability Board’s Key Attributes and global regulatory issues behind RRP

· What types of entities are subject to RRP

· Status of RRP in Japan

· How headquarters and group RRP requirements affect branches and subsidiaries in Japan.

· Total loss absorbing capital (TLAC) proposals , and how these relate to RRP.

 

 

Understanding and Deciphering Conduct Risk & Risk Culture

Two presenters from Deloitte discussed the practical considerations associated with embedding conduct risk management into existing risk management processes and governance including:

· Background, definitions and drivers

· Management Processes and frameworks

· Effective Governance

· Communication, including the tone from the top

· Measurement and management information

· Key Challenges and Insights

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