# Pulse

The heart of the GLP community

# Pulse

The heart of the GLP community

# BBVA banks on us

In a win that opens the door to other engagements on forthcoming regulatory developments, KPMG in Spain has won the project to assist BBVA, one of Europe’s largest banks, in implementing the European Market Infrastructure Regulation (EMIR).
The EMIR regulations were developed to improve the transparency and stability of the derivatives markets and although competition for this engagement was considerable, BBVA chose KPMG because of its:
• Position in Spain as a leading provider of financial regulation
advisory services.
• Multidisciplinary and specialised team. This included professionals with
wide-ranging credentials and experience relating to derivatives markets and
regulatory changes including Dodd Frank, EMIR, MiFID 2, Basel III and
FATCA.
• Diversity of expertise. Together with the support provided by the
FS Regulatory Center of Excellence, this greatly differentiated our offering
in the eyes of the client.
• Deep and broad knowledge of BBVA and strong existing relationship
with the client. KPMG knows the BBVA Group and its international operations
through working on previous engagements – including assisting with the
financial consolidation process, RWAs and FATCA. KPMG’s partners,
directors, managers and team members all maintain strong relationships with
the different departments of the bank.
• Long-standing track record of collaboration with BBVA and reputation as a
key advisor in the implementation of regulatory changes.

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Issue 2 / March 2014