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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: 12.12.2018 | Topic Measures Publication of financial reports: Federal Office of Justice imposes disciplinary fine against Deutsche Cannabis AG

On 4 October 2018, the Federal Office of Justice (Bundesamt für Justiz – BfJ) imposed a disciplinary fine amounting to 2,500 euros against Deutsche Cannabis AG.

More: Publication of financial reports: Federal Office of Justice imposes disciplinary fine against Deutsche Cannabis AG …

Date: 12.12.2018 | Topic Measures Publication of financial reports: Federal Office of Justice imposes disciplinary fine against Deutsche Cannabis AG

On 4 October 2018, the Federal Office of Justice (Bundesamt für Justiz – BfJ) imposed a disciplinary fine amounting to 2,500 euros against Deutsche Cannabis AG.

More: Publication of financial reports: Federal Office of Justice imposes disciplinary fine against Deutsche Cannabis AG …

Date: 12.12.2018 | Topic Measures Publication of financial reports: Federal Office of Justice imposes disciplinary fine against Deutsche Cannabis AG

On 4 October 2018, the Federal Office of Justice (Bundesamt für Justiz – BfJ) imposed a further disciplinary fine amounting to 250,000 euros against Deutsche Cannabis AG.

More: Publication of financial reports: Federal Office of Justice imposes disciplinary fine against Deutsche Cannabis AG …

Date: 12.12.2018 | Topic Measures Publication of financial reports: Federal Office of Justice imposes disciplinary fine against Deutsche Cannabis AG

On 4 October 2018, the Federal Office of Justice (Bundesamt für Justiz – BfJ) imposed a further disciplinary fine amounting to 250,000 euros against Deutsche Cannabis AG.

More: Publication of financial reports: Federal Office of Justice imposes disciplinary fine against Deutsche Cannabis AG …

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.