RRegulatory
Accelerating the Process Through Transparency 1
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  • 4 minute read

Accelerating the Process Through Transparency

On 15 September 2026, the German Federal Financial Supervisory Authority (BaFin) published its new Circular 12/2026 on the authorisation procedure for AIF management companies pursuant to section 22 KAGB. The Circular took effect on the date of its publication and replaces the previous guidance notice on the authorisation procedure for AIF management companies pursuant to section 22 KAGB.
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RRegulatory
Turbo-Zertifikate mit Beißkorb Turbo Certificates on a Leash
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  • 2 minute read

Turbo Certificates on a Leash

On 16 June 2026, BaFin’s general administrative order restricting the marketing, distribution and sale of turbo certificates enters into force. It establishes strict requirements for all distribution activities relating to turbo certificates directed at retail investors.
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FFinTech
BaFin puts turbo certificates on a tight leash 3
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  • 2 minute read

BaFin puts turbo certificates on a tight leash

General ruling to restrict the marketing, distribution and sale of turbo certificates to retail investors With its general ruling, BaFin imposed restrictions on the marketing, distribution and sale of turbo certificates. It sets out strict conditions for all sales activities relating to turbo certificates targeting retail investors.
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BBanking
The WpI MaRisk – Guidelines for Investment Firms in Light of Proportionality 4
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  • 4 minute read

The WpI MaRisk – Guidelines for Investment Firms in Light of Proportionality

In early August, BaFin published its draft of the WpI MaRisk – the minimum requirements for the risk management of investment firms. With this circular, now open for consultation, BaFin complements the institution-specific regulatory framework and establishes a flexible, practical approach to implementing proper business organisation in line with the WpIG.
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