Law Firms Chiomenti, Cuatrecasas Gonçalves Pereira, Gide Loyrette Nouel and Gleiss Lutz, have decided to set up a joint working group of highly specialized professionals in regulatory assistance which will have Frankfurt as their point of reference/meeting.
Thanks also to the proximity to the European Central Bank, the task force it will promote increasingly constant interaction with the authorities, at the same time promoting dialogue and interaction with the main banking institutions. Leveraging the experience of the professionals of the four Firms that will participate in the task force, each bearer of the expertise acquired in four of the main European markets (Italy, France, Spain and Germany), the task force will give life to what over time intends to be a real point of reference in regulatory matters at European level.
The model that the Studio chooses to approach today with the launch of task force, made possible thanks to the precious interaction developed in recent years with its main customers and European correspondents, aims to offer the main financial institutions a work group characterized by excellence and an integrated offer of their respective skills, such as to ensure assistance suitable for combining the best national professionalism with the need to carry out its activities with a European vision, ready to better interpret the requests and directives of the European Central Bank.
In the wake of the introduction of the Single Supervisory Mechanism (SSM), the European Central Bank has undoubtedly become today the cornerstone of the banking supervision system. The establishment of a regulatory hub, capable of acting beyond national borders, therefore falls within the natural development of the role and traditions of the four Firms active in the field of banking supervision.
“If it is true that in the past the national authorities managed to hold the reins of the entire process, even when it was a question of implementing laws at European level – today the dynamics of banking supervision have changed profoundly – to the point of not foreseeing a subsequent transposition at national level for the newly introduced rules'' affirms the lawyer. Alessandro Portolano, Partner of the Chiomenti Law Firm. “The importance of Frankfurt is set to grow. Frankfurt will become even more important for the banking sector than Brussels today is for the antitrust'' notes Prof. Vincenzo Troiano, Partner of the Chiomenti Law Firm.
"The hub intends to support the natural evolutions of the sector and act as a permanent point of contact between the four Studios to become, on the one hand, a collector of ideas, and on the other, an engine of exchange of skills at the highest level, for the ultimate benefit of the client" says Maximilian von Rom Partner of Gleiss Lutz, Germany.
"In a market that evolves so rapidly, the establishment of a hub today puts us in the position of continuing to offer an extremely punctual regulatory assistance service and this in total compliance with the quality standards that distinguish our studies", states the 'Attorney Stephane Puel, Associate of Gide.
“The regulatory hub will allow us to face the increasingly growing role of the European Central Bank and the challenges that followed the introduction of the Single Supervisory Mechanism (SSM), even more efficiently than in the past, by continuing to work on assignments of the single Law Firms, affirms Avv. Fernando Minguez Hernandez, Partner of Cuatrecasas Gonçalves Pereira.
The regulatory hub working group is coordinated by Prof. Troiano and Avv. Pilot book of the Chiomenti Law Firm, by Avv. Fernando Minguez Hernandez of Cuatrecasas Gonçalves Pereira, by Avv. Stephane Puel of Gide and Avv. Maximilian von Rom by Gleiss Lutz.
