The United Arab Emirates (UAE) has the most complex compliance regime of any country in the world, while Ireland is the simplest country in the world in Corporate compliance terms. according to a new report by TMF Group. The UAE is followed by Qatar, then China and Argentina in terms of the complexity of its compliance regime.
Ireland is followed by Denmark, Curaco, Honduras and Nicaragua. The United States ranked in the middle of the pack at No- 55. The U.S has reduced complexity by implementing digitalization, but these efforts are offset by increased regulatory burdens according to the TMF report.
The UAE ranked first on the difficulty scale primarily because it has introduced a Value Added Tax and many of the constituent Emirates have also increased their filling requirements and are enforcing deadlines and Penalties for late submissions.
Insurance sector M&A deals on Increase, but more challenging -Moody’s.
more mergers & Aqcus deals in the re Insurance Sector are on the way but will be more challenging, according to Moody’s recent report. It said firms are seeking to broaden their depth, scale and market relevance through M & A’s. However, it explained that although the current operating environment is still supportive of M&A transactions, the number of potential candidates has declined and Sellers expectations is still very high.
The reinsurance market which has been dealing with persistently soft rates for almost a decade faces significant uncertainty on whether it can secure notable rate increase in 2018.