Stand:updated on 05.01.2023 | Topic BaFin Function and composition of the Administrative Council
BaFin Administrative Council
The Administrative Council monitors the management of BaFin and supports BaFin in the performance of its supervisory functions. In addition, it is responsible for deciding on the budget of BaFin, which is funded completely by the companies it supervises and is thus not covered by the federal government's budget.
BaFin's President must keep the Administrative Council regularly informed of BaFin's management activities.
The Administrative Council comprises 17 voting members. The Federal Ministry of Finance appoints six members with technical knowledge and expertise in the subject. These can be stakeholders or persons in positions in financial industry associations or supervised entities, or scientific experts. Prior to appointing a member, the Federal Ministry of Finance will consult with the financial industry associations, which are entitled to recommend three of the six members.
The following Federal Ministries are represented on the Admimistrative Council:
- the Federal Ministry of Finance (Bundesministerium der Finanzen – BMF)
- the Federal Ministry for Economic Affairs and Climate Action (Bundesministerium für Wirtschaft und Klimaschutz (BMWK)
- the Federal Ministry of Justice (Bundesministerium für Justiz – BMJ)
- the Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection (Bundesministerium für Umwelt, Naturschutz, nukleare Sicherheit und Verbraucherschutz (BMUV)
Members of the Administrative Council
As at: December 2022
For the Federal Ministries
Thoms, Heiko (chairperson - Federal Ministry of Finance)
Dr Wimmer, Eva (vice chairperson - Federal Ministry of Finance)
Wolpers, Reinhard (Federal Ministry of Finance)
Dr L'Hoest, Raphael (Federal Ministry for Economic Affairs and Climate Action)
Blöink, Thomas (Federal Ministry of Justice)
Springeneer, Helga (Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection)
For the German Bundestag
Dr. Zimmermann, Jens (member of parliament)
Hauer, Matthias (member of parliament)
Müller, Sascha (member of parliament)
Herbrand, Markus (member of parliament)
Gottschalk, Kay (member of parliament)
Experts from the private sector and academia
Quinten, Daniel (upon recommendation by the credit institutions)
Asmussen, Jörg (upon recommendation by the insurance undertakings)
Richter, Thomas (upon recommendation by the asset management companies)
Prof. Dr Langenbucher, Katja (representative of academia)
Prof. Dr Wagner, Fred (representative of academia)
Prof. Dr Dinger, Valeriya (representative of academia)