Germany

Topic: Financial Institutions

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German regulators work on proposals for “Small Banking Box” regulation

The German Federal Financial Supervisory authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) and the German Central Bank (Deutsche Bundesbank) are currently working on a draft proposal for the so-called “Small Banking Box” regulation. The aim of the “Small Banking Box” is to specify the principle of proportionality in banking regulation. The new proposal suggests that small and … Continue Reading

German regulator publishes additional information requirements regarding equity funds

On 4 April 2017, the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) published its interpretation decision (the “Decision”) regarding information to be provided in the sales prospectus. BaFin’s decision addresses the latest discussion about “closet indexing”; which means that  the management of an investment fund is described as “active” in the sales prospectus … Continue Reading

Third regulatory survey on low yield environment

The German Central Bank (Deutsche Bundesbank) and the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) have conducted a survey on the revenue situation and resilience of German banks in the low yield environment. The previous surveys in 2013 and 2015 have shown that the low interest rate environment poses continuous negative challenges on … Continue Reading

Brexit: BaFin has launched new web pages for foreign companies in the financial sector

The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has launched new pages on its website for foreign companies in the financial sector. On these new web pages, BaFin provides information regarding: communication; procedures; internal risk models; outsourcing and securities prospectus. The web pages also contain a new Brexit FAQ catalogue in which BaFin … Continue Reading

New law on the reorganisation of bank resolutions

The German Government has begun to reorganise national financial stability tasks which are due to be completed by 2018. As a first step a new “Law on the reorganisation of the tasks of the Federal Financial Market Stability Authority” (Gesetz zur Neuordnung der Aufgaben der Bundesanstalt für Finanzmarktstabilisierung – FMSANeuOG) has been published in the … Continue Reading

BaFin publishes consultation paper regarding the amendment of the Circular for the investment of guarantee assets

The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has published a consultation paper outlining amendments to the circular relating to the investment of guarantee assets of insurance companies (Kapitalanlagerundschreiben – the “Circular”). The Circular shall specify the German investment ordinance (Anlageverordnung – the “Investment Ordinance”) which has been effective since 22 April 2016 … Continue Reading
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