FFinTech
Bin ich Kreditgeber im Sinne der Verbraucherkreditrichtlinie? Am I a creditor within the meaning of the Consumer Credit Directive?
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  • 5 minute read

Am I a creditor within the meaning of the Consumer Credit Directive?

Instalment payments, payment by invoice or “buy now, pay later”: the new rules implementing the Consumer Credit Directive may result in new obligations for merchants from 20 November 2026. One of the key questions is whether the merchant itself qualifies as a creditor within the meaning of the AbsFinAG or cooperates with a bank or BNPL provider. We answer the key questions on registration, creditworthiness assessments and other requirements.
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AAnti Money Laundering & Sanctions
Virtuelle IBANs im Visier Was die neue Bafin-Aufsichtsmitteilung für Banken und Zahlungsdienstleister bedeutet Virtual IBANs under BaFin scrutiny: New AML expectations for banks and payment service providers
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  • 10 minute read

Virtual IBANs under BaFin scrutiny: New AML expectations for banks and payment service providers

Virtual IBANs have become an established component of modern payment models. With Supervisory Notice 06/2026, BaFin now clarifies its expectations for credit institutions and payment service providers regarding transparency, anti-money laundering compliance and risk management in complex virtual IBAN structures.
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FFinTech
PFOF-Verbot
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  • 5 minute read

The PFOF ban comes into force: What the new BaFin supervisory statement means for brokers and neobrokers

Since 1 July 2026, the ban on Payment for Order Flow (“PFOF”) has also been in force for purely domestic business relationships in Germany. On 22 July 2026, BaFin published a supervisory statement on this matter, in which it sets out in concrete terms for the first time which business models it considers to be compliant with the rules - and which are not.
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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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RRegulatory
Der Bafin-Jahresbericht 2025: Zwischen Cyber-Resilienz, Geldwäscheprävention und dem Blick nach Europa The BaFin Annual Report 2025: Between Cyber Resilience, Anti-Money Laundering and a European Perspective
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  • 5 minute read

The BaFin Annual Report 2025: Between Cyber Resilience, Anti-Money Laundering and a European Perspective

The BaFin Annual Report 2025 highlights a profound transformation of financial supervision. Alongside cyber resilience, DORA and ESG regulation, data-driven supervision, anti-money laundering and stronger European harmonisation are moving centre stage. At the same time, requirements for governance, IT structures and management accountability are increasing significantly.
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FFinTech
BaFin puts turbo certificates on a tight leash 1
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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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