Country Manual Private Banking
India

BRP has updated its Country Manual Private Banking for India out of Bank’s Country of Establishment (DEF, RS, BT & RT)
Source of changes | Answers |
---|---|
Law / Regulation | No |
New Position of the Authorities | No |
Evolution of Expert’s Interpretation | Yes |
Regulatory Template, Regulatory Summary and Behaviour Template
Material changes
The Country Manual has been reviewed to ensure that the content of all the documents remains accurate and up to date. We can confirm that there have been no material changes or modifications in the relevant Israeli regulation since the last update with an impact on banks that have not received a Permit under Section 49A Securities Act (and which do not service exclusively qualified clients).
Implications for business relations with third parties
There are no implications for business relations with local third parties, as Banks without a Permit can not have any presence onsite in Israel.
Regulatory Summary
This document has now a more user-friendly layout and reflects the changes contained in the RT.
BT Short Comparison
BRP has created a comparison document allowing users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP’s platform (mybrponline) in the Search tab by entering in the Document Field “CM PB BT SHORT COMP” and “ISRAEL” in the Target Country Field.
The BT Short Comparison should be read as follows:
The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.
For more information, please contact us: info@brpsa.com
Geneva, January 13th, 2025