The investment and banking industry represents a legal world of its own. To operate effectively, banking systems of every country rely on the use of regulations and compliance provisions to govern transactions, reporting, and other aspects of financial management. In the United States alone, financial services are regulated at both the state and federal levels by a myriad of authorities including the Office of the Comptroller of Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Federal Reserve, the Securities and Exchange Commission (SEC), and more. Other countries have their own systems ranging from simple to complex.
International financial deals are on the rise. According to the Financial Times in December 2020, “Foreign investors have piled into emerging markets this quarter at the most rapid clip in seven years…”. According to their forecast, emerging markets are expected to outperform and continue to see growth throughout 2021. This is a small glimpse into how the financial networks of various international countries mesh together as the business and banking worlds become increasingly global.
By no means is the growth of international finance limited to large corporate deals. Currently, the U.S. State Department estimates that 9 million of our citizens live abroad. All of those individuals likely conduct financial transactions between the U.S. and their countries of residence regularly. Many more people residing in our borders have bank accounts abroad for a myriad of reasons.
Suffice it to say, it’s become normal practice to conduct investment deals and financial transactions internationally—and with that comes a significant need for accurate financial translations. To be successful in this type of work, you need services from translators that understand all of the regulations governing financial transactions to ensure the translation is clear and accurately reflects the source material. Some of the most common documents requiring translation include:
Annual and quarterly reports,- Prospectuses,
- Merger and acquisition due diligence documentation,
- Underwriting agreements,
- Consumer banking disclosures, statements, and lending documents,
- Credit card applications and disclosures,
- Proxy statements,
- Financial presentations and pitch books,
- And more.
Annual and quarterly reports,Just as with other legal documents, an accurate translation of financial transactions requires professionals who are fluent in both languages and have a solid understanding of the banking regulations applicable to your book of work of both countries. When you have important financial documents requiring translation, contact The Perfect Translation. By using the services of our financial experts, you will gain peace of mind that you have accurate translations for your important job.
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