Limited Network and Limited Range | FinTech online course #7
16In the context of payment services and e-money, many speak of Limited Networks and Limited Range. This refers…
PayTechTalk 58 – Deposit business | FinTech online course #12
Payment institutions and e-money institutions collect funds from their customers and hold these funds – sometimes for longer…
Requirements for maintaining a BaFin Licence | FinTech online course #18
In our yesterday’s blog post, we dealt with the question how to obtain a BaFin licence for payment…
Draft bill on the Financial Market Integrity Strengthening Act (FISG) – Increased controls, more sovereign powers and threats of punishment as a deterrent
On October 26, 2020, the German Federal Ministry of Finance (Bundesministerium der Finanzen – BMF) and the German…
BaFin inspecting general terms and conditions: What do payment and other financial services providers need to be aware of?
When drafting general terms and conditions (“T&C”), the “opponents” are generally your contractual partners as well as consumer…
Comment on the draft general ruling of BaFin regarding Sec. 24c KWG and virtual IBAN
BaFin has published a general ruling on 7 September 2020, pursuant to which credit institutions are obliged to…
BaFin Guidance Notice on planned reforms regarding members of management / supervisory bodies (part 2)
In part 1, we provided some background information to the updated BaFin guidance notices entitled “Guidance Notice on…
BaFin Guidance Notice on planned reforms regarding managing directors pursuant to the KWG, ZAG and KAGB (part 1)
BaFin is currently working on updating its “guidance notice on managing directors pursuant to the KWG, ZAG and…
Legal, illegal, who cares? – Sanctions for payment services and e-money business without a licence
As part of our daily advisory work, we often have to consider whether a license is required for…
Light and shadow: The revised version of the BaFin guidance note on guarantee business
On 3 April 2020, BaFin published its new guidance note on guarantee business (“New Guidance Note“). In practice,…