BaFin

News

Date: 29.11.2018 | Topic Consumer protection BaFin plans national prohibition of binary options for retail clients

The German Federal Financial Supervisory Authority (Bundesanstalt für FinanzdienstleistungsaufsichtBaFin) is planning to prohibit the marketing, distribution and sale of binary options to retail clients at a national level. For this purpose, it has today published the draft version of a general administrative act (only available in German). The German supervisor is thus already preparing for the expiry of the product intervention measure imposed by the European Securities and Markets Authority (ESMA).

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Date: 29.11.2018 | Topic Unauthorised business Platincoin has no authorisation under section 32 of the German Banking Act (Kreditwesengesetz – KWG)

The Federal Financial Supervisory Authority (Bundesanstalt für FinanzdienstleistungsaufsichtBaFin) hereby announces that it has not issued Platin Genesis DMCC with authorisation to conduct banking business or provide financial services in accordance with section 32 of the KWG.

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Date: 22.11.2018 VAIT now available in English

The Supervisory Requirements for IT in Insurance Undertakings (Versicherungsaufsichtliche Anforderungen an die IT – VAIT), which BaFin published in German in July 2018, are now also available in English.

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Date: 14.11.2018 | Topic Market manipulation United Battery Metals Corp. (ISIN: CA9095801028): BaFin warns of buy recommendations for shares

According to information available to the Federal Financial Supervisory Authority (Bundesanstalt für FinanzdienstleistungsaufsichtBaFin), buy recommendations are currently being issued for shares in United Battery Metals Corp. (ISIN: CA9095801028) on a large scale via e-mail newsletters.

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Measures

Date: 06.12.2018 | Topic Measures United Power Technology AG: BaFin imposes administrative fines

On 20 November 2018, BaFin imposed administrative fines amounting to 400,000 euros against United Power Technology AG.

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Date: 05.12.2018 | Topic Measures Morgan Stanley & Co. International plc: BaFin imposes administrative fines

On 3 December 2018, BaFin imposed administrative fines amounting to 2.4 million euros against Morgan Stanley & Co. International plc.

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Date: 04.12.2018 | Topic Unauthorised business Smart Choice Zone L.P. (Platform: Toroption): BaFin orders the cessation of cross-border proprietary trading

In a notice dated 23 November 2018, BaFin ordered Smart Choice Zone L.P., United Kingdom, to cease cross-border proprietary trading immediately.

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Date: 28.11.2018 | Topic Unauthorised business GammaTech Services OÜ and AlphaTec LTD: BaFin orders the cessation of cross-border proprietary trading and cross-border portfolio management

In a notice dated 23 November 2018, BaFin ordered GammaTech Services OÜ, Estonia, and AlphaTec LTD, United Kingdom, to cease cross-border proprietary trading and cross-border portfolio management immediately.

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New documents

Topic Insurance intermediariesCir­cu­lar 11/2018 (VA) – In­sur­ance Dis­tri­bu­tion

Circular 11/2018 (VA) – Insurance Distribution (Rundschreiben 11/2018 zur Zusammenarbeit mit Versicherungsvermittlern sowie zum Risikomanagement im Vertrieb) in the version of 17 July 2018

Please note: This English version is provided for information purposes only. The original German text is binding in all respects.

Cir­cu­lar 10/2018: Su­per­vi­so­ry Re­quire­ments for IT in In­sur­ance Un­der­tak­ings

Supervisory Requirements for IT in Insurance Undertakings (Versicherungsaufsichtliche Anforderungen an die IT – VAIT) in the version of 2 July 2018

Please note: This English version is provided for information purposes only. The original German text is binding in all respects.

BaFin­Per­spec­tives Is­sue 1 | 2018

Supervision and Regulation in the Age of Big Data and Artificial Intelligence / Distributed Ledger Technology: Blockchain as a Basis for Information Security / Blockchain Technology – Thoughts on Regulation / Digitalisation and Information Security in the Financial and Insurance Sectors as a Focus of Regulatory Requirements