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Initial Coin Offerings (refer to: Initial coin offerings: High risks for consumers)
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Ini­tial coin of­fer­ings: High risks for con­sumers

The acquisition of cryptocurrency coins as part of initial coin offerings (ICOs) may result in substantial risks for investors. This article describes the relevant legal background, explains the risks of ICOs and contains important information for consumers.

The acquisition of cryptocurrency coins as part of initial coin offerings (ICOs) may result in substantial risks for investors. This article describes the relevant legal background, explains the risks of ICOs and contains important information for consumers.

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News

Date: 09.11.2017 - Topic Fintechs, Consumer protection Consumer warning: the risks of initial coin offerings

BaFin wishes to point out that the acquisition of cryptocurrency coins – also referred to as tokens, depending on their form – as part of so-called "initial coin offerings" (ICOs) may result in substantial risks for investors. ICOs are a highly speculative form of investment. Investors should therefore be prepared for the possibility of losing their investment completely. As is the case with most new trends, the high level of public interest in ICOs is also attracting fraudsters. More: Consumer warning: the risks of initial coin offerings …

Date: 23.10.2017 - Topic Authorisation US reinsurers: Bilateral Agreement between the EU and the USA

The EU and the USA have signed the "Bilateral Agreement between the European Union and the United States of America on prudential measures regarding insurance and reinsurance". Among other things, the Agreement contains provisions regarding the conclusion of contracts by reinsurers from the USA with primary insurance undertakings and reinsurance undertakings from the EU. More: US reinsurers: Bilateral Agreement between the EU and the USA …

Date: 18.10.2017 - Topic Market manipulation Al Hamra Hotels + Resorts Ltd.: BaFin warns of buy recommendations for shares

According to information available to the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht BaFin), buy recommendations are currently being issued for shares in Al Hamra Hotels + Resorts Ltd. (ISIN: AU000000AHH3) via unsolicited phone calls (cold calling). More: Al Hamra Hotels + Resorts Ltd.: BaFin warns of buy recommendations for shares …

Date: 25.09.2017 - Topic Authorisation requirements GLSSTOCKS has no authorisation pursuant to section 32 of the German Banking Act (Kreditwesengesetz – KWG)

On its website GLSSTOCKS offers customers the opportunity to open an account for trading in foreign currencies and derivatives, i.e. in contracts for difference (CFDs). More: GLSSTOCKS has no authorisation pursuant to section 32 of the German Banking Act (Kreditwesengesetz – KWG) …

Measures

Date: 14.11.2017 - Topic Measures Bank Sepah–Iran, Frankfurt Branch: BaFin imposes lending prohibition

On 12 September 2017, the Federal Financial Supervisory Authority (Bundesanstalt für FinanzdienstleistungsaufsichtBaFin) issued an order to Bank Sepah-Iran, Frankfurt Branch, prohibiting the institution from lending until further notice. BaFin had identified contraventions of re-quirements for a proper business organisation within the meaning of sec-tion 25a (1) of the Banking Act (Kreditwesengesetz – KWG). More: Bank Sepah–Iran, Frankfurt Branch: BaFin imposes lending prohibition …

Date: 06.11.2017 - Topic Measures Alexanderwerk AG: BaFin imposes administrative fine

On 1 November 2017, BaFin imposed an administrative fine amounting to 94,500 euros against Alexanderwerk AG. More: Alexanderwerk AG: BaFin imposes administrative fine …

Date: 27.10.2017 - Topic Measures Mars One Ventures AG: BaFin imposes coercive fines

On 23 October 2017 BaFin imposed coercive fines in the amount of EUR 230,000 on Mars One Ventures AG. More: Mars One Ventures AG: BaFin imposes coercive fines …

Su­per­vi­so­ry mea­sures

BaFin has extensive powers to put an end to unauthorised banking, insurance or investment business. It can also adopt measures against supervised banks, insurers and investment companies.

Aufsichtliche Maßnahmen (refer to: Supervisory measures)

New documents

Topic Industry figuresStatis­tics from BaFin - Rein­sur­ance un­der­tak­ings 2015/2016

Statistics from BaFin - Reinsurance undertakings 2015/2016

Topic Authorisation requirementsIn­vest­ment ser­vices and ac­tiv­i­ties pass­port no­ti­fi­ca­tion

Investment services and activities passport notification

Topic Authorisation requirementsBranch pass­port no­ti­fi­ca­tion

Branch passport notification

Topic Authorisation requirementsTied agent pass­port no­ti­fi­ca­tion

Tied agent passport notification

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