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FAQ – Digital Regulatory Monitoring

 

Here you will find answers to the most common questions:

 

 


 

What are the key benefits of Digital Regulatory Monitoring?

The main benefit of Digital Regulatory Monitoring is the automated analysis of the regulatory requirements to be met based on your individual company characteristics. This way, you always stay up to date and do not miss any developments that are relevant for you and could have an impact on your business activity. You receive meaningful reports with just a few clicks. If there is a potential need for action, specific recommendations tailored to your institution will appear on your digital dashboard automatically.

 

Who is Digital Regulatory Monitoring aimed at?

The content of Digital Regulatory Monitoring is currently aimed at Swiss banks and securities firms, fund management companies, managers of collective assets and asset managers. An expansion of the services for other financial intermediaries is being planned.

 

Which legal areas does Digital Regulatory Monitoring cover?

Digital Regulatory Monitoring covers important regulations that have recently come into force in national and (where they have a significant impact on Switzerland) international financial market law, as well as pending regulatory projects. The overview represents a selection or excerpt of enactments and projects that are currently of particular importance from BDO's perspective.

 

Which specific services are included in the offer?

The access to Digital Regulatory Monitoring includes constantly updated overviews of regulations that have recently come into force and current regulatory projects that are relevant for your institution. Whether and to what extent there is a need for action in connection with these becomes immediately apparent.

On detailed pages you will find a summary of the relevant regulations with links to further documents such as the specific legal or regulatory bases.

You can enter your internal implementation status or other comments on the individual regulations directly in the Digital Regulatory Monitoring or conveniently extract its content in Word format for further processing, for example for your internal compliance reporting.

If new regulations are added to Digital Regulatory Monitoring or the comments on existing regulations are adapted, you will immediately receive an e-mail alert that briefly summarises the changes.

Depending on the module you subscribe to, Modul additional personal advisory services are available from our experts.

 

What criteria are used to assess the relevance and the possible need for action?

The basis for the assessment is the questionnaire on your individual company characteristics, which you fill out at the beginning. This questionnaire was carefully compiled on the basis of the regulatory requirements and is updated on an ongoing basis.

 

What costs should I expect?

If you are interested in Digital Regulatory Monitoring, we will be happy to send you a non-binding offer. The ‘Basic’ module includes access to Digital Regulatory Monitoring at a reference value for an annual subscription of CHF 3,000 (plus VAT). As part of the ‘Advanced’ package, BDO experts also conduct a workshop on regulatory developments with you every six months. The ‘Expert’ package includes access to Digital Regulatory Monitoring and semi-annual workshops on regulatory developments, as well as the drafting of the ‘Regulatory Change Management’ section as part of your internal compliance reporting.

 

How many accesses/user accounts will I receive if I opt for Digital Regulatory Monitoring?

You will receive one main access. You can use this to create accesses for other employees of your institution at no additional cost. The creation of accesses for persons outside your company is prohibited.

 

Can I test the Digital Regulatory Monitoring?

A demonstration of Digital Regulatory Monitoring by your contact person at BDO is possible by arrangement.

 

How can I access Digital Regulatory Monitoring?

You can access Digital Regulatory Monitoring with your laptop or computer as well as with your tablet and smartphone.

 

How much time does it take to set up Digital Regulatory Monitoring?

The time required to complete the questionnaire for the first time is around 15 minutes.

 

How does BDO ensure that the Digital Regulatory Monitoring is up-to-date?

BDO ensures that regulatory developments within the areas of law covered are incorporated into the Digital Regulatory Monitoring as soon as they are published.

 

How long will older regulatory developments remain available in the Digital Regulatory Monitoring?

Older regulatory developments will be removed from the current version of the Digital Regulatory Monitoring at BDO's discretion within approximately one year after entry into force resp. after the expiry of any transition periods. You can, however, continue to access the corresponding information within the scope of the reports you previously extracted from the Digital Regulatory Monitoring and stored therein.

 

What options do I have if further questions arise on a specific topic?

With Digital Regulatory Monitoring, you can manage regulatory requirements efficiently and benefit from recommendations for action that are tailored to your institution. If further questions arise on a specific topic, you can contact the experts at BDO at any time.

 

Under what contract terms is Digital Regulatory Monitoring available?

The contract period is one year, with an option to extend for a further year at a time.

 

Is data stored abroad within the scope of Digital Regulatory Monitoring?

Data is stored exclusively on BDO servers in Switzerland.