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Key elements of ARUG II have been in force since September. The practical implementation of the shareholder directive at six private banks was successful.

However, experience also shows that banks must now prepare for the big rush in the coming year. Read Dieter Heidrich’s article in IT Finanzmagazin to find out what challenges they still face.

“On September 3rd, key elements of the ARUG II shareholder guideline for intermediaries came into force. This is a first important step towards improving the rights and participation of shareholders in the EU. But how have banks fared and what does the interaction with other intermediaries look like? Together with six custodian banks, we developed an ARUG II release for their core banking system and brought it to go-live. The experiences from the first weeks of operation show that – even if we broke new ground in many areas – ultimately all the requirements of the first stage could be implemented. However, the banks will still have to prepare for the big rush.”

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