Erscheinung:13.08.2012 New interface specifications available for downloading as of 13 August 2012
Employee and complaints register: BaFin makes available test database
As of 1 September 2012, BaFin will make available a test database for reports to the Employee and complaints register. Investment services providers subject to the reporting requirement can use the test procedure to ensure operability of the reporting system early on. Registration will be possible as of 20 August 2012 via the MVP Portal. The statutory reporting obligation applies as of 1 November 2012.
Access to test procedure
For utilising the test access, a separate application is needed which the test reporters can submit as of 20 August 2012. The application can be filed in addition to or independent of the admission to the actual specialised procedure. Test reporters that have not yet registered on the MVP Portal must first complete the registration procedure there. The special features relating to use of the test database are explained in an information sheet for the test database. It supplements the updated information sheet and its annex.
Modified interface specifications
In addition, the interface specifications for reports submitted via the SOAP web service and via the XML interface have changed:
- Information on the changes as well as updated specifications (only available in German)
- Formats of the form fields of the specialised procedure (only available in German)
Background
With the Investor Protection and Capital Markets Improvement Act (Anlegerschutz- und Funktionsverbesserungsgesetz – AnsFuG) new reporting requirements for investment services providers will be introduced as of 1 November 2012, and special requirements for certain employee groups will apply. This is intended to provide investors with better protection from erroneous advice.
After entry into force of section 34d of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG), investment services providers are required to report to BaFin any employees entrusted with providing investment advice, sales representatives and compliance officers as well as additional related information (e.g. complaints). For this purpose, BaFin makes available an electronic reporting procedure via the MVP Portal. Already from 2 July 2012, future reporters can submit an application for admission to the productive specialised procedure that will be available as of 1 September 2012.
