Among BaFin’s tasks is to get involved in the creation of a single European financial market. In addition, it is represented in other international bodies and is thus involved in shaping international regulatory standards. In doing so, it represents the interests of Germany as a financial marketplace.
The most important international bodies include the International Association of Insurance Supervisors (IAIS), the International Organization of Securities Commissions (IOSCO) and, not least, the Basel Committee on Banking Supervision (BCBS). In addition, each of these bodies has a number of committees and groups.
In the field of supervision of private pension arrangements, the creation of the International Organisation of Pensions Supervisors (IOPS) has established an international structure comparable with that of the IAIS. The function of these bodies is to develop global regulatory standards and recommendations for company and market supervision. Cross-sector bodies such as the Financial Stability Board and the Joint Forum also play a key role at the global level.
updated on 01.04.2016