On 2 November 2017 BaFin published an updated version of the MaComp Circular. The MaComp (Minimum Requirements for the Compliance Function and Additional Requirements Governing Rules of Conduct, Organisation and Transparency pursuant to Sections 31 et seq. of the Securities Trading Act (Wertpapierhandelsgesetz – WpHG) for Investment Services Enterprises) comprise all publications concerning the conduct of business rules set out in sections 31 et seq. of the WpHG.
The Circular has been amended to reflect the implementation of MIFID II as of 3 January 2018. Existing Modules have been amended and new modules haven been introduced containing provisions regarding the scope of application, supervision of employee transactions, suitability statements, inducements, complaint management and reports.
A comprehensive summary of the amendments in German language can be found here.