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News

Geldwäschegesetz (refer to: Money Laundering Act)
1

Mon­ey Laun­der­ing Act

On 22 February, the Federal Government agreed on the draft of an act to transpose the Fourth EU Money Laundering Directive into German law and at the same time to transfer and restructure the Financial Intelligence Unit (FIU) currently based at the Federal Criminal Police Office (Bundeskriminalamt – BKA).

Pagination

News

Date: 15.03.2017 - Topic Authorisation Health insurance: BaFin publishes new guidance notice on the authorisation of joint-stock companies

BaFin has published a new guidance notice comprising guidelines for the authorisation of insurance joint-stock companies for the pursuit of health insurance business as primary insurance undertakings in Germany. It specifies the documents and information required by BaFin from companies in order to assess whether authorisation can be given. In addition, the guidance notice states the specificities applicable to small insurance undertakings within the meaning of section 211 of the German Insurance Supervision Act (VersicherungsaufsichtsgesetzVAG). More: Health insurance: BaFin publishes new guidance notice on the authorisation of joint-stock companies …

Date: 10.03.2017 - Topic Prospectuses Securities prospectuses: BaFin to hold workshop to provide information to foreign issuers

BaFin is inviting foreign issuers wishing to go through BaFin's approval procedure for securities prospectuses and their advisers to a prospectus workshop in Frankfurt on 23 May 2017 from 10 a.m. to 3.15 p.m. The workshop will be held in English and will address a need on the part of issuers to find out about alternative ways of accessing the European capital market in the context of Brexit. More: Securities prospectuses: BaFin to hold workshop to provide information to foreign issuers …

Date: 28.02.2017 - Topic Authorisation Data reporting services providers: BaFin is accepting draft applications

The European Markets in Financial Instruments Directive II (MiFID II) requires the provision of data reporting services by data reporting services providers to be authorised and supervised by the national competent authorities from 3 January 2018. More detailed information can be found on the BaFin website. More: Data reporting services providers: BaFin is accepting draft applications …

Date: 24.02.2017 Reporting obligation under MiFIR: Legal Entity Identifier (LEI) will be compulsory from 2018 onwards

From 3 January 2018 onwards a legal entity identifier (LEI) will be necessary for reportable transactions pursuant to Article 26 of the Markets in Financial Instruments Regulation (MiFIR). More: Reporting obligation under MiFIR: Legal Entity Identifier (LEI) will be compulsory from 2018 onwards …

Measures

Date: 18.04.2017 - Topic Unauthorised business Onecoin Ltd, Dubai: Prohibition of involvement in unauthorised money remittance business

Following the cease and desist order to IMS International Marketing Services GmbH (IMS) on 5 April 2017, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) issued on 18 April 2017 a direct order to OneCoin Ltd, Dubai holding that the company is to immediately cease its business activities in Germany insofar as it is involved in the initiation, conclusion and settlement of the unauthorized money remittance business conducted by IMS through the execution of payments to IMS' accounts and the issuing of payment instructions to IMS. More: Onecoin Ltd, Dubai: Prohibition of involvement in unauthorised money remittance business …

Date: 10.04.2017 - Topic Unauthorised business IMS International Marketing Services GmbH: account freezing and winding-down of unauthorised money remittance business

On 17 and 20 February 2017, the German Federal Financial Services Supervisory Authority BaFin imposed an account freeze on the known to still be active bank accounts which IMS International Marketing Services GmbH, a German limited liability company based in the city of Greven, held in Germany. The administrative action is by law immediately enforceable; it is based on § 4 (1) sentence 4 of the German Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz – ZAG). More: IMS International Marketing Services GmbH: account freezing and winding-down of unauthorised money remittance business …

Date: 03.04.2017 - Topic Measures Publication of financial reports: Federal Office of Justice imposes disciplinary fine against China Specialty Glass AG

On 14 March 2016, the Federal Office of Justice (Bundesamt für Justiz - BfJ) imposed a disciplinary fine amounting to 7,500 euros against China Specialty Glass AG. More: Publication of financial reports: Federal Office of Justice imposes disciplinary fine against China Specialty Glass AG …

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

Ar­bi­tra­tion Board at BaFin

The arbitration board at the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) is an official consumer dispute resolution entity pursuant to section 14 (1) of the German Injunctions Act (Unterlassungsklagengesetz – UKlaG).

Topic AuthorisationGuid­ance no­tice on the au­tho­ri­sa­tion of in­sur­ance joint-stock com­pa­nies for the pur­suit of health in­sur­ance busi­ness

Guidelines for the authorisation of insurance joint-stock companies for the pursuit of health insurance as primary insurance undertakings within the Federal Republic of Germany

Guid­ance no­tice on the au­tho­ri­sa­tion of in­sur­ance joint-stock com­pa­nies for the pur­suit of rein­sur­ance busi­ness

Guidelines for the authorisation of insurance joint-stock companies for the sole pursuit of reinsurance business within the Federal Republic of Germany

Contacts

Con­sumers

Are you having problems with a bank or an insurance company? Find out more about how to complain and the points of contact.

Ansprechpartner für Verbraucher (refer to: Consumers)

For whistle­blow­ers

BaFin receives disclosures about actual or suspected violations of supervisory provisions.

Whistleblower (refer to: For whistleblowers)

Quick links

Datenbanken

Databas­es

You can search for companies which hold an authorisation, have passed the EU/EEA notification procedure or have established a representative office in Germany. Other databases include information on investment funds, prospectuses filed and more.

More: Databases …

MVP Portal

MVP Por­tal

This service is intended for those providers who would like to meet BaFin's notification, reporting and transmission requirements on the basis of a simple and secure electronic data exchange system or who are required to use the Reporting and Publishing Platform.

More: MVP Portal …

Hinweisgeberportal

Whistle­blow­ers

Do you wish to disclose actual or suspected violations of supervisory provisions? You can send such information anonymously to BaFin's central contact point for whistleblowers.

More: Whistleblowers …

Ausschreibungen

Calls for ten­der

Calls for tender and tender specifications are only available in German.

More: Calls for tender …