German Location Promotion Act (StOFöG) Enters into Force – Employee and Complaint Notifications Abolished
With the promulgation of the Location Promotion Act (Standortförderungsgesetz – StOFöG) on 9 February 2026, an initial step…
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.
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.
Finfluencers – Facing Headwinds from All Directions
Finfluencers are under pressure: Tax authorities are investigating evasion, BaFin is tightening oversight, and a BGH ruling on distance learning adds fuel to the fire.
The professional suitability of members of executive bodies of KWG institutions
New fit and proper circular from BaFin The German Federal Financial Supervisory Authority (BaFin) is consulting on a…
BGH overturns clauses on custody fees
Negative interest is dead; long live negative interest? In two now published decisions of 4 February 2025 (XI…
BaFin and the Finfluencers – Part 2
In an update to its guidance note on the concept of investment advice, BaFin confirms that finfluencers generally…
Interest rate and credit spread risks in the banking book
BaFin publishes 8th MaRisk amendment With Circular 06/2024 (BA), BaFin published the 8th amendment to the Minimum Requirements…
Minimum risk management requirements for ZAG institutions – ZAG-MaRisk
On 27 May 2024, the German Federal Financial Supervisory Authority (“BaFin”) published the final version of its circular…
One-way street FiDA – why well-intentioned is not well done
With its proposal for a regulation on a framework for access to financial data (Financial Data Access –…
The group privilege in payment services regulation
In a nutshell, the Payment Services Supervision Act (ZAG) stipulates that payment transactions and associated services within a…
Revision of MaComp BT 8
BaFin implements ESMA guidelines on MiFID II compensation requirements With a revision of the Special Part 8 of…
Minimum requirements for risk management at ZAG institutions (1)
Update: The ZAG-MaRisk was published on May 27, 2024 after an extended consultation. According to the BaFin’s letter…
Sustainability preferences and risks
A major player in the fight against climate change is the capital market. The transformation to a low-carbon,…