Financial services

Financial services are defined as the activities listed in Section 1 para. 1 sentence 2 of the German Banking Act (KWG).

Financial services are, for example, investment broking, contract broking, investment advice and financial portfolio management. In addition, crypto custody business also constitutes a financial service.

The person providing financial services is a financial services institution if certain conditions are met. Financial services institutions wishing to operate in Germany require a licence. In Germany this licence is issued by the BaFin.