FFinTech
Zwischen Swipe und Aufsicht Social Commerce boomt – doch rechtlich ist nicht alles erlaubt. Wann Plattformen Zahlungsdienste erbringen und welche Ausnahmen greifen, erklärt der Beitrag. Regulation
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  • 6 minute read

Between swiping and regulation

Social commerce is transforming social media platforms like TikTok into virtual marketplaces—but without a license to provide payment services, legal challenges arise. This article examines how existing payment regulations apply to new platform models and the regulatory tightrope they must walk.
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FFinTech
BaFin puts turbo certificates on a tight leash 2
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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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FFinTech
MaGo-Novellierung in Kraft – Versicherer sollten sich die weiterentwickelte Sichtweise der BaFin zu Herzen nehmen. Seit dieser Woche ist das BaFin-Rundschreiben 09/2025 (VA) zu den aufsichtsrechtlichen Mindestanforderungen an die Geschäftsorganisation von Versicherungsunternehmen unter Solvabilität II (MaGo für SII-VU) in Kraft.
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  • 4 minute read

MaGo Amendment in Force – Insurers Should Take BaFin’s Evolved Perspective to Heart

The revised MaGo (Minimum Requirements for the Business Organisation) issued by BaFin came into force in October 2025. It places greater emphasis on structured documentation, governance responsibilities, and the overall accountability of the management board. Updates include guidance on sustainability risks, automated processes, and group governance. Existing requirements – such as those on ORSA or the Prudent Person Principle – remain valid. Insurers must not only adapt their structures but also implement them effectively in practice.
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FFinTech
DigiFin25 – Creating the Future Together 3
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  • 3 minute read

DigiFin25 – Creating the Future Together

Digitisation, regulation, geopolitical uncertainty – the pace of change in the financial sector has rarely been as intense as it is today. DigiFin25 brings together the key players to discuss the future of the financial industry – and we’re right at the heart of it.
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FFinTech
Neues Buch: Das Recht der digitalen Zahlungsdienstleistungen
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  • 2 minute read

PayTechLaw – now available as a book!

With the title “PayTechLaw – The Law of Digital Payment Services”, a new handbook has been published by C.H. BECK. It is dedicated entirely to the regulatory and civil law framework of digital payments. The editors: Prof. Dr. Carsten Herresthal, LL.M., and Annerton partners Dr. Matthäus Schindele and Frank Müller, LL.M. – all recognized experts in payment services and financial regulatory law. They were supported by a top-class team of authors – including many familiar names from the Annerton environment and beyond.
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FFinTech
The Determining Role of the Schufa Score in Third-Party Decisions 6
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  • 5 minute read

The Determining Role of the Schufa Score in Third-Party Decisions

Whether the Schufa score is decisive for third-party credit decisions has, since the CJEU ruling of 7 December 2023 (C-634/21), determined whether its mere calculation qualifies as an automated decision within the meaning of Article 22(1) GDPR. The CJEU made it clear that this cannot be assumed in general but must instead be assessed by national courts on a case-by-case basis. Since then, uncertainty has prevailed as to how the requirement of “decisiveness” should be interpreted.
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