• Home­page
• Com­pa­nies
  • Cur­rent in­for­ma­tion re­gard­ing the Coro­n­avirus
  • Su­per­vi­so­ry pri­or­i­ties
  • Banks & fi­nan­cial ser­vices providers
    • Eu­ro­pean bank­ing su­per­vi­sion
      • Sin­gle Su­per­vi­so­ry Mech­a­nism
      • Sin­gle Rule­book
    • Mar­ket en­try
      • Bank­ing busi­ness
      • In­vest­ment ser­vices
      • Fi­nan­cial ser­vices
      • Cryp­to cus­tody busi­ness
      • Hy­brid busi­ness mod­els
    • Pass­port­ing
      • Cred­it in­sti­tu­tions
      • Se­cu­ri­ties trad­ing firms
      • Leas­ing and fac­tor­ing in­sti­tu­tions
      • Brex­it Pass­port­ing
    • Cap­i­tal re­quire­ments
      • Own funds def­i­ni­tion
      • Cred­it risks
      • Mar­ket risks
      • Op­er­a­tional risks
      • Coun­ter­cycli­cal cap­i­tal buffer
      • Oth­er sys­tem­i­cal­ly im­por­tant in­sti­tu­tions (O-SII)
      • Glob­al sys­tem­i­cal­ly im­por­tant in­sti­tu­tions (G-SII)
    • Liq­uid­i­ty re­quire­ments
    • Risk man­age­ment
    • Con­duct of busi­ness obli­ga­tions
    • No­ti­fi­ca­tion & re­port­ing re­quire­ments
      • Em­ploy­ee and com­plaints reg­is­ter
    • Mea­sures
      • Pub­li­ca­tion of mea­sures
      • Spe­cial in­spec­tions
      • Re­cov­ery and Res­o­lu­tion
      • Mora­to­ri­um
  • In­sur­ance un­der­tak­ings & pen­sion funds
    • Su­per­vi­so­ry Regime
      • Sol­ven­cy I
      • Sol­ven­cy II
      • Sol­ven­cy II le­gal bases and guide­lines
      • In­ter­me­di­aries
    • Au­tho­ri­sa­tion
      • Do­mes­tic in­sur­ers
      • EU/EEA in­sur­ers
      • EU/EEA in­sti­tu­tions for oc­cu­pa­tion­al re­tire­ment pro­vi­sion (IORPs)
      • Third-Coun­try In­sur­ers
      • US rein­sur­ers
    • Own funds re­quire­ments
      • Sol­ven­cy I
      • Sol­ven­cy II
    • Gov­er­nance
      • Gen­er­al re­quire­ments
      • Key func­tions
      • Out­sourc­ing
    • In­vest­ments
      • Pru­dent Per­son Prin­ci­ple
      • Guar­an­tee As­sets Trustee
      • Statis­tics
    • Su­per­vi­sion of groups and fi­nan­cial con­glom­er­ates
      • Group su­per­vi­sion
      • Fi­nan­cial con­glom­er­ates
    • Oc­cu­pa­tion­al Re­tire­ment Pro­vi­sion
      • Im­ple­men­ta­tion meth­ods
      • Su­per­vi­so­ry Fo­cus
    • Ap­pli­ca­tions
      • In­ter­nal mod­els
      • Un­der­tak­ing-spe­cif­ic pa­ram­e­ters
      • An­cil­lary own funds
      • Volatil­i­ty ad­just­ment
      • Tran­si­tion­al mea­sures
    • Re­port­ing Pro­ce­dures
      • Re­port­ing Obli­ga­tions
      • Sub­mis­sion of da­ta
      • Le­gal En­ti­ty Iden­ti­fi­er (LEI)
  • Pay­ment ser­vices and PSD2
    • Pay­ment ser­vices that re­quire au­tho­ri­sa­tion
    • Au­tho­ri­sa­tion pro­ce­dure un­der PSD2 and on­go­ing su­per­vi­sion
    • Cov­er for in­sured events
    • Free­dom to pro­vide ser­vices and free­dom of es­tab­lish­ment
    • Wide us­age pe­ri­od for ded­i­cat­ed in­ter­faces
    • Brex­it Pass­port­ing
  • Stock ex­changes & mar­kets
    • Is­suer Guide­lines
      • Mod­ule A - Mon­i­tor­ing of com­pa­ny fi­nan­cial state­ments / Pub­li­ca­tion of fi­nan­cial state­ments
        • Mon­i­tor­ing of com­pa­ny fi­nan­cial state­ments pur­suant to sec­tions 106 et seq. of the WpHG
          • In­tro­duc­tion
          • Com­pa­nies and fi­nan­cial re­ports af­fect­ed (sec­tion 106 of the WpHG)
            • Scope of ap­pli­ca­tion
            • Scope of the ex­am­i­na­tion
            • Stan­dards used in the ex­am­i­na­tion
          • Two-tier fi­nan­cial re­port­ing en­force­ment pro­ce­dure
            • Ba­sic prin­ci­ples
            • Er­ror iden­ti­fi­ca­tion pro­ce­dure
            • Sec­tion 109 (2) of the WpHG – Pub­li­ca­tion of er­rors
        • Co­op­er­a­tion be­tween BaFin and oth­er pub­lic au­thor­i­ties in Ger­many re­gard­ing the en­force­ment pro­ce­dure (sec­tions 17, 21, 110 of the WpHG)
          • Co­op­er­a­tion with pros­e­cut­ing au­thor­i­ties – sec­tion 110 (1), sec­tion 21 (1) sen­tence 3 no. 1 of the WpHG
          • Co­op­er­a­tion with the Au­di­tor Over­sight Body – sec­tion 110 (2) sen­tence 1, sec­tion 21 (1) of the WpHG
          • Co­op­er­a­tion with the ex­change su­per­vi­so­ry au­thor­i­ties and trad­ing surveil­lance units – sec­tion 110 (2) sen­tence 2, sec­tion 17 (2) of the WpHG, sec­tion 21 (1) sen­tence 3 no. 2 of the WpHG
          • Co­op­er­a­tion with the Bun­des­bank, the Fed­er­al Car­tel Of­fice, labour in­spec­tion of­fices and oth­er bod­ies – sec­tion 17 (2), sec­tion 21 of the WpHG
        • Ju­di­cial re­lief from mea­sures tak­en by BaFin in fi­nan­cial re­port­ing en­force­ment pro­ce­dures
          • Mea­sures tak­en by the FREP
          • Mea­sures tak­en by BaFin
            • Ob­jec­tions
            • Com­plaints
            • Sum­ma­ry pro­ceed­ings
        • Fi­nan­cial re­port­ing re­quire­ments – (sec­tions 114 to 118 of the WpHG)
          • In­tro­duc­tion
          • Scope
          • Fi­nan­cial re­port­ing re­quire­ments pur­suant to sec­tions 114 to 117 of the WpHG
            • Pub­li­ca­tion of the an­nu­al fi­nan­cial re­port
            • Pub­li­ca­tion of an an­nounce­ment
            • No­ti­fi­ca­tion of the an­nounce­ment to BaFin
            • For­ward­ing of the an­nounce­ment to the com­pa­ny reg­is­ter for archiv­ing
            • For­ward­ing of the fi­nan­cial re­port to the com­pa­ny reg­is­ter for archiv­ing
          • Lan­guage to be used for the fi­nan­cial re­port and the an­nounce­ment
          • Ex­emp­tions pur­suant to sec­tion 118 of the WpHG
          • Su­per­vi­so­ry mea­sures ap­pli­ca­ble to vi­o­la­tions of the fi­nan­cial re­port­ing obli­ga­tions pur­suant to sec­tions 114 et seq. of the WpHG
          • Sum­ma­ry of gen­er­al fi­nan­cial re­port­ing re­quire­ments pur­suant to sec­tions 114 et seq. of the WpHG
        • Co­op­er­a­tion of BaFin with for­eign agen­cies as part of the su­per­vi­sion of pe­ri­od­ic fi­nan­cial re­port­ing in­clud­ing the en­force­ment pro­ce­dure (sec­tions 18 and 111 of the WpHG)
      • Mod­ule B – In­for­ma­tion on ma­jor hold­ings of vot­ing rights  / In­for­ma­tion nec­es­sary for ex­er­cis­ing rights at­tached to se­cu­ri­ties
        • In­for­ma­tion on ma­jor hold­ings of vot­ing rights (sec­tions 33 – 47 of the WpHG)
          • Ba­sic prin­ci­ples
            • Re­quire­ments of Eu­ro­pean law
            • Na­tion­al leg­is­la­tion
          • No­ti­fi­ca­tion obli­ga­tions
            • Overview
            • Gen­er­al prin­ci­ples for fil­ing no­ti­fi­ca­tions
            • No­ti­fi­ca­tion obli­ga­tion for vot­ing rights at­tached to shares in the case of al­ready list­ed is­suers (sec­tion 33 (1) of the WpHG)
            • No­ti­fi­ca­tion obli­ga­tion on first time ad­mis­sion of shares to trad­ing on an or­gan­ised mar­ket (sec­tion 33 (2) of the WpHG)
            • At­tri­bu­tion of vot­ing rights un­der sec­tion 34 of the WpHG
            • Non-con­sid­er­a­tion of vot­ing rights (sec­tion 36 of the WpHG)
            • No­ti­fi­ca­tions by par­ent un­der­tak­ings (“group no­ti­fi­ca­tions”) (sec­tion 37 of the WpHG)
            • No­ti­fi­ca­tion obli­ga­tions re­lat­ing to hold­ings of in­stru­ments (sec­tion 38 of the WpHG)
            • No­ti­fi­ca­tion obli­ga­tions for hold­ings of vot­ing rights and in­stru­ments (sec­tion 39 of the WpHG)
            • Le­gal con­se­quences of vi­o­la­tions of the no­ti­fi­ca­tion obli­ga­tion
          • Pub­li­ca­tion and trans­mis­sion re­quire­ments
            • Ad­dressees of the pub­li­ca­tion and trans­mis­sion re­quire­ments
            • Is­suer’s pub­li­ca­tion re­quire­ment and trans­mis­sion to the Com­pa­ny Reg­is­ter (sec­tion 40 of the WpHG)
            • Obli­ga­tion to pub­lish the to­tal num­ber of vot­ing rights and trans­mis­sion to the Com­pa­ny Reg­is­ter (sec­tion 41 of the WpHG)
            • Ex­emp­tions from the obli­ga­tions un­der sec­tion 40 (1) and sec­tion 41 of the WpHG for third coun­try is­suers (sec­tion 46 (1) and (2) of the WpHG)
            • Pub­li­ca­tion obli­ga­tion un­der sec­tion 43 (2) of the WpHG
            • Le­gal con­se­quences of vi­o­la­tions of the pub­li­ca­tion, trans­mis­sion and no­ti­fi­ca­tion obli­ga­tions
        • In­for­ma­tion nec­es­sary for ex­er­cis­ing rights at­tached to se­cu­ri­ties (sec­tions 48 et seq. of the WpHG)
          • In­tro­duc­tion
          • Is­suers’ obli­ga­tions to hold­ers of se­cu­ri­ties (sec­tion 48 of the WpHG)
            • Gen­er­al in­for­ma­tion
            • Obli­ga­tions of is­suers to hold­ers of se­cu­ri­ties and debt se­cu­ri­ties ad­mit­ted to trad­ing
            • Sec­tion 48 (2) of the WpHG
          • Pub­li­ca­tion of in­for­ma­tion and elec­tron­ic trans­mis­sion (sec­tion 49 of the WpHG)
            • Gen­er­al in­for­ma­tion
            • Sec­tion 49 (1) sen­tence 1 no. 1 of the WpHG
            • Sec­tion 49 (1) sen­tence 1 no. 2 of the WpHG
            • Sec­tion 49 (2) no. 1 of the WpHG
            • Sec­tion 49 (2) no. 2 of the WpHG
            • Sec­tion 49 (3) of the WpHG
          • Change in the le­gal ba­sis of the is­suer (sec­tion 30c of the WpHG (old ver­sion)) and ap­pli­ca­bil­i­ty to is­suers from the EU and the EEA (sec­tion 30d of the WpHG (old ver­sion))
          • Pub­li­ca­tion of ad­di­tion­al dis­clo­sures and trans­mis­sion to the Com­pa­ny Reg­is­ter (sec­tion 50 of the WpHG)
            • Gen­er­al in­for­ma­tion
            • Sec­tion 50 (1) sen­tence 1 no. 1 of the WpHG
            • Sum­ma­ry of the re­quire­ments to be met by a pub­li­ca­tion or no­ti­fi­ca­tion un­der sec­tion 50 (1) sen­tence 1 no. 1 of the WpHG
            • Sec­tion 50 (1) sen­tence 1 no. 2 of the WpHG
          • Ex­emp­tion (sec­tion 51 of the WpHG)
          • Ad­min­is­tra­tive of­fences
      • Mod­ule C – Re­quire­ments based on the Mar­ket Abuse Reg­u­la­tion (MAR)
        • Ad hoc dis­clo­sure and pro­hi­bi­tions of in­sid­er deal­ing
          • Fi­nan­cial in­stru­ments with­in the mean­ing of the MAR
          • In­side in­for­ma­tion
            • In­side in­for­ma­tion un­der point (a) of Ar­ti­cle 7(1) of the MAR
            • Oth­er types of in­side in­for­ma­tion
          • Ad-hoc-Pub­liz­ität gemäß Art. 17 MAR
            • Vorbe­merkung
            • Vo­raus­set­zun­gen der Ad-hoc-Pub­liz­ität­spflicht
            • Auf­schubregelun­gen
            • Un­verzüglichkeit
            • Form und In­halt der Ad-hoc-Mit­teilung
            • Ad-hoc-Mit­teilung im Falle des Er­forderniss­es der Ak­tu­al­isierung
            • Ad-hoc-Mit­teilung im Falle des Er­forderniss­es der Berich­ti­gung
            • Form und In­halt der Vor­ab­mit­teilung, § 26 Abs. 1 WpHG
            • Mit­teilung nach Auf­schub und zuständi­ge Be­hörde
            • Veröf­fentlichung der In­sid­er­in­for­ma­tion
            • Sprache
            • Über­mit­tlung an das Un­ternehmen­sreg­is­ter
            • Sank­tio­nen bei Pflichtver­let­zun­gen
          • Ver­bot von In­sid­ergeschäften und un­recht­mäßiger Of­fen­le­gung von In­sid­er­in­for­ma­tio­nen
            • Be­hand­lung von Al­t­fällen
            • Ver­bot des Täti­gens von In­sid­ergeschäften
            • Ver­bot des Empfehlens und der Ver­leitung
            • Ver­bot der un­recht­mäßi­gen Of­fen­le­gung von In­sid­er­in­for­ma­tio­nen
            • Sank­tio­nen
        • Man­ag­er's trans­ac­tions, Ar­ti­cle 19 of the MAR
          • Who is af­fect­ed?
            • Ref­er­ence to is­suers
            • Per­sons sub­ject to the no­ti­fi­ca­tion obli­ga­tion
          • No­ti­fi­ca­tion
            • Fi­nan­cial in­stru­ments af­fect­ed
            • Types of trans­ac­tions af­fect­ed
            • Thresh­old
            • For­mat for the no­ti­fi­ca­tion
            • Sub­mis­sion to BaFin
            • Con­tent of the no­ti­fi­ca­tion
            • No­ti­fi­ca­tion pe­ri­od
          • Pub­lic dis­clo­sure
            • Na­ture and place of pub­lic dis­clo­sure
            • Con­tent of the pub­li­ca­tion
            • Lan­guage of dis­clo­sure
            • No­ti­fi­ca­tion to the Com­pa­ny Reg­is­ter
            • Pro­vi­sion of ev­i­dence
            • Amend­ments
            • Pro­hi­bi­tion of deal­ing
            • Obli­ga­tion to in­form, record and re­tain
            • Spe­cif­ic cas­es
          • Penal­ties for in­fringe­ments
            • No­ti­fi­ca­tion and dis­clo­sure
            • Obli­ga­tion to in­form, record and re­tain
            • Pro­hi­bi­tion of deal­ing
            • Pro­vi­sion of ev­i­dence
            • Stor­age in the Com­pa­ny Reg­is­ter
        • Pro­hi­bi­tion of mar­ket ma­nip­u­la­tion
          • Sig­nif­i­cance for the pre­sen­ta­tion of busi­ness in­for­ma­tion
          • Le­gal frame­work
          • Treat­ment of lega­cy cas­es
          • Pro­hi­bi­tion of mar­ket ma­nip­u­la­tion
          • Ma­te­ri­al scope of the pro­hi­bi­tion of mar­ket ma­nip­u­la­tion
          • Per­son­al scope of the pro­hi­bi­tion of mar­ket ma­nip­u­la­tion
          • Mar­ket ma­nip­u­la­tion through false or mis­lead­ing sig­nals when dis­sem­i­nat­ing in­for­ma­tion
            • Dis­sem­i­na­tion of in­for­ma­tion
            • With­hold­ing in­for­ma­tion
            • Send­ing false or mis­lead­ing sig­nals
          • In­flu­ence on prices
          • Mar­ket ma­nip­u­la­tion as a crim­i­nal of­fence
          • Mar­ket ma­nip­u­la­tion as an ad­min­is­tra­tive of­fence
          • Pub­li­ca­tion of mea­sures and penal­ties un­der sec­tion 125 of the WpHG
        • Buy-back pro­grammes and sta­bil­i­sa­tion mea­sures
          • Ex­emp­tions (safe har­bour) from the pro­hi­bi­tion of mar­ket abuse for buy-back pro­grammes and price sta­bil­i­sa­tion mea­sures
          • Reg­u­lar no­ti­fi­ca­tion obli­ga­tion to BaFin
          • Reg­u­lar dis­clo­sure obli­ga­tion
          • Share buy-backs for oth­er rea­sons, buy-backs of oth­er in­stru­ments
          • Res­o­lu­tions on buy-back pro­grammes as in­side in­for­ma­tion
        • In­sid­er lists
          • Pre­lim­i­nary re­marks
          • Per­sons re­quired to draw up in­sid­er lists
            • Is­suers
            • Emis­sion al­lowance mar­ket par­tic­i­pants and oth­er per­sons re­quired to draw up in­sid­er lists
            • Per­sons act­ing on be­half or for the ac­count of the is­suers (ser­vice providers)
            • Re­lief for SME is­suers
          • Per­sons to be in­clud­ed
            • Per­for­mance of du­ties and com­ing in­to pos­ses­sion of in­side in­for­ma­tion
            • Ex­am­ples of per­sons at the is­suer to be in­clud­ed
            • Spe­cial case: Ser­vice providers
          • Struc­ture and con­tent of the list
            • Ad­vance en­tries in the in­sid­er list
            • For­mat and struc­ture
            • In­for­ma­tion to be in­clud­ed
          • Up­dat­ing the list
          • Con­fi­den­tial­i­ty
          • Pro­vi­sion of the list to BaFin
          • Re­ten­tion and de­struc­tion
          • Du­ty to in­form
          • Sanc­tions
        • Mar­ket sound­ings
          • Ex­emp­tion from the pro­hi­bi­tion of dis­clo­sure
          • Spir­it and pur­pose
          • Scope
            • Per­son­al scope
            • Ma­te­ri­al scope
          • Obli­ga­tions of the per­sons in­volved in the mar­ket sound­ing
            • Obli­ga­tions of the dis­clos­ing mar­ket par­tic­i­pant (DMP)
            • Obli­ga­tions of mar­ket sound­ing re­cip­i­ents (MSRs)
            • Le­gal con­se­quence
    • Trans­paren­cy
      • Is­suers’ in­for­ma­tion obli­ga­tions
        • Ad hoc dis­clo­sure
        • Di­rec­tors' deal­ings
        • Ma­jor hold­ings of vot­ing rights
        • In­for­ma­tion obli­ga­tion pur­suant to sec­tions 48 et seq. WpHG
        • Fi­nan­cial re­port­ing
      • Com­pa­ny takeovers
      • Fi­nan­cial re­port­ing en­force­ment
      • Short-sell­ing
        • Pro­hi­bi­tion
        • Trans­paren­cy
        • Ex­emp­tions
      • Le­gal En­ti­ty Iden­ti­fi­er (LEI)
    • Mar­ket abuse
      • In­sid­er trad­ing
      • Mar­ket ma­nip­u­la­tion
      • In­vest­ment and in­vest­ment strat­e­gy rec­om­men­da­tions
    • Trad­ing
      • High Fre­quen­cy Trad­ing
      • Sys­tem­at­ic In­ter­nal­i­sa­tion
      • Sus­pen­sion of trad­ing
      • Set­tle­ment in­ter­nalis­ers
    • Deriva­tives
      • OTC deriva­tives - EMIR
        • Non-fi­nan­cial coun­ter­par­ties
        • Fi­nan­cial coun­ter­par­ties
        • No­ti­fi­ca­tions to BaFin
        • Col­lat­er­al­i­sa­tion of OTC deriva­tives
        • In­tra­group ex­emp­tions clear­ing
        • Re­port­ing
        • Clear­ing obli­ga­tion for deriva­tives
      • Po­si­tion lim­its for com­mod­i­ty deriva­tives
    • Mea­sures & sanc­tions
      • Prod­uct in­ter­ven­tion
  • As­set man­age­ment com­pa­nies & in­vest­ment funds
    • Au­tho­ri­sa­tion & Mar­ket­ing
      • Reg­is­tered of­fice and head of­fice in Ger­many
      • Branch in Ger­many
      • Mar­ket­ing in Ger­many
    • In­vest­ment funds
    • Hedge funds
  • Prospec­tus­es
    • Se­cu­ri­ties prospec­tus­es
      • Prospec­tus re­quire­ment
      • Draw­ing up of a prospec­tus & ap­proval pro­cess
      • Base prospec­tus regime
      • New EU Prospec­tus Reg­u­la­tion 2017/1129
    • In­vest­ment prospec­tus­es
  • Pre­ven­tion of mon­ey laun­der­ing and ter­ror­ist fi­nanc­ing
    • Gen­er­al
    • Elec­tron­ic Ac­count Re­trieval Sys­tem
    • High Risk Coun­tries and sanc­tion lists
    • Le­gal Sources
      • Na­tion­al le­gal sources
      • BaFin re­quire­ments
      • EU reg­u­la­tions and guide­lines
      • FATF rules
    • Sus­pi­cious Trans­ac­tion Re­port­ing Sys­tem
    • Prin­ci­pal du­ties
  • Com­pa­ny start-ups and fin­tech com­pa­nies
    • Con­tact form
    • Robo-ad­vice and au­to-trad­ing
    • Al­ter­na­tive pay­ment meth­ods
    • Blockchain tech­nol­o­gy
    • Crowd­fund­ing
      • Crowd­in­vest­ing
      • Crowdlend­ing
    • Au­to­mat­ed port­fo­lio man­age­ment
    • Plat­form for sig­nalling and au­to­mat­ed or­der ex­e­cu­tion
    • Vir­tu­al Cur­ren­cy
    • In­surtech Com­pa­nies
  • Cross-sec­toral is­sues
    • In­ter­nal risk mod­els
    • Unau­tho­rised busi­ness
    • BaFin’s Con­tact Point for Whistle­blow­ers
    • Brex­it
  • Su­per­vi­so­ry Dis­clo­sure
    • Bank­ing su­per­vi­sion
    • In­sur­ance su­per­vi­sion
      • Su­per­vi­so­ry Re­view Pro­cess
      • Ex­er­cise of op­tions
      • Ag­gre­gate sta­tis­ti­cal da­ta
      • Ob­jec­tives, tasks and ac­tiv­i­ties
      • Dis­clo­sure of mea­sures
  • Bank res­o­lu­tion
    • Res­o­lu­tion plan­ning and prepa­ra­tion
    • Res­o­lu­tion
    • Or­der­ing res­o­lu­tion mea­sures
    • Cross-bor­der group res­o­lu­tion and re­la­tions with third coun­tries
• Con­sumers
  • Warn­ings & lat­est news
  • BaFin & con­sumer pro­tec­tion
    • How does BaFin help con­sumers?
    • What doesn't BaFin do?
    • How is BaFin fund­ed?
  • Con­sumer helpline
  • Mak­ing com­plaints and re­solv­ing dis­putes
    • Mak­ing a com­plaint to a com­pa­ny
    • Fil­ing a com­plaint with BaFin
    • Re­solv­ing dis­putes through dis­pute res­o­lu­tion en­ti­ties
    • Re­solv­ing dis­putes through BaFin
  • Guar­an­tee schemes for cus­tomers
    • De­posit pro­tec­tion and in­vestor com­pen­sa­tion
    • In­sur­ance guar­an­tee schemes
  • Bank­ing & loans
    • Costs & charges
    • Pay­ments
    • Cash trans­fer
    • Prod­ucts
      • Cur­rent ac­count
      • Ba­sic pay­ment ac­count
      • Giro­cards & cred­it cards
      • Over­drafts
      • Loans
      • Home sav­ings
  • In­sur­ance & old-age pro­vi­sion
    • Re­port­ing a loss
    • Con­clud­ing in­sur­ance con­tracts
    • Ter­mi­nat­ing in­sur­ance con­tracts
    • Pay­ing in­sur­ance pre­mi­ums
    • In­sur­ance prod­ucts
      • Life and pen­sion in­sur­ance
      • Oc­cu­pa­tion­al re­tire­ment pro­vi­sion
      • Third-par­ty li­a­bil­i­ty in­sur­ance
      • Health in­sur­ance
      • Home con­tents in­sur­ance
      • Build­ings in­sur­ance
      • Mo­tor ve­hi­cle in­sur­ance
      • Le­gal ex­pens­es in­sur­ance
      • Trav­el in­sur­ance
      • Ac­ci­dent in­sur­ance
      • Resid­u­al debt in­sur­ance
      • Cy­ber in­sur­ance
  • In­vest­ing mon­ey
  • Se­cu­ri­ties and in­vest­ment prospec­tus­es
• In­ter­na­tion­al
  • Eu­ro­pean su­per­vi­sion
    • Macro­pru­den­tial su­per­vi­sion
    • Mi­cro­pru­den­tial su­per­vi­sion
    • Mis­sion state­ment of the SSM
    • Eu­ro­pean Su­per­vi­sors Ed­u­ca­tion Ini­tia­tive (ESE)
  • In­ter­na­tion­al co­op­er­a­tion
    • FSB
    • Basel Com­mit­tee
    • IOSCO
    • IAIS
    • IOPS
    • FATF
  • Bi­lat­er­al co­op­er­a­tion
    • For­eign su­per­vi­so­ry au­thor­i­ties
    • Mem­o­ran­da of un­der­stand­ing
  • Stress tests & as­sess­ment
    • Com­pre­hen­sive As­sess­ment 2014
    • Bank re­cap­i­tal­i­sa­tion ex­er­cise 2011
    • EU-wide stress test 2011
    • EU-wide stress test 2010
• Law & Reg­u­la­tion
  • Ad­min­is­tra­tive Acts
  • Con­sul­ta­tions
  • Cir­cu­lars
  • In­ter­pre­ta­tive de­ci­sions
  • Guid­ance No­tices
  • Le­gal Bases
    • Acts
    • Reg­u­la­tions
  • ESA Guide­lines and Q&As
    • ESA guide­lines that have not been adopt­ed
    • ESA Q&As that have not been adopt­ed
• Pub­li­ca­tions & da­ta
  • News
  • Ex­pert Ar­ti­cles
  • BaFin­Per­spec­tives
    • All is­sues of BaFin­Per­spec­tives
    • Ar­ti­cles from BaFin­Per­spec­tives
  • An­nu­al re­port
    • An­nu­al Re­port 2016
    • An­nu­al Re­port 2017
  • Statis­tics
  • Brochures
  • Databas­es
    • Search com­pa­nies
    • ZAG reg­is­ter of in­sti­tu­tions un­der sec­tions 43 and 44 of the ZAG
    • Man­agers’ trans­ac­tions
    • Ma­jor hold­ings of vot­ing rights
    • Reg­is­ter of tied agents
    • In­vest­ment funds
    • Reg­is­ter of fee-based in­vest­ment ad­vis­ers
    • Prospec­tus­es filed
      • Se­cu­ri­ties prospec­tus­es filed
      • In­vest­ment prospec­tus­es filed
  • Speech­es & In­ter­views
• BaFin
  • Func­tions & his­to­ry
    • Bank­ing Su­per­vi­sion
      • Co­op­er­a­tion be­tween BaFin and Deutsche Bun­des­bank
    • In­sur­ance Su­per­vi­sion
    • Se­cu­ri­ties Su­per­vi­sion/As­set Man­age­ment
    • Cross-sec­toral is­sues
  • Le­gal bases & or­gan­i­sa­tion
    • BaFin bod­ies
      • Ad­min­is­tra­tive Coun­cil
      • Ad­vi­so­ry Board
      • Con­sumer Ad­vi­so­ry Coun­cil
      • Fi­nan­cial Sta­bil­i­ty Com­mit­tee
      • In­sur­ance Ad­vi­so­ry Coun­cil
      • Se­cu­ri­ties Coun­cil
    • Fi­nanc­ing
    • Com­pli­ance
      • Com­pli­ance Of­fi­cer
      • Da­ta pro­tec­tion
      • Pre­ven­tion of cor­rup­tion
      • Spon­sor­ing pol­i­cy
    • Con­sumer Pro­tec­tion Of­fi­cer
  • The ex­ec­u­tive
    • Pres­i­dent
    • Bank­ing Su­per­vi­sion
    • Se­cu­ri­ties Su­per­vi­sion
    • In­sur­ance and Pen­sion Funds Su­per­vi­sion
    • In­ter­nal Ad­min­is­tra­tion and Le­gal Af­fairs
  • Ob­jec­tives and strate­gies
    • Ob­jec­tives
    • Dig­i­tal­i­sa­tion Strat­e­gy
  • BaFin’s Con­tact Point for Whistle­blow­ers
  • Con­tact us
    • Me­dia con­tacts
      • Pic­ture archive
    • Con­sumer en­quiries and com­plaints
    • Ques­tions on the au­tho­ri­sa­tion re­quire­ment for fi­nan­cial busi­ness­es
    • Non-Ger­man com­pa­nies and is­suers of se­cu­ri­ties
    • Oth­er ques­tions re­lat­ing to su­per­vi­sion
    • BaFin’s Con­tact Point for Whistle­blow­ers
    • Po­ten­tial ap­pli­cants
    • Group vis­its
    • Se­cure e-mail com­mu­ni­ca­tion
    • Legal­ly valid e-mail com­mu­ni­ca­tion
    • Ques­tions and prob­lems re­gard­ing the BaFin web­site
  • Work­ing at BaFin
    • Va­can­cies
    • Work-life bal­ance
    • Train­ing
  • Ser­vice
    • MVP Por­tal
      • Net Short Po­si­tions
      • Elec­tron­ic fil­ing of fi­nal terms
      • Em­ploy­ee & Com­plaints Reg­is­ter
      • No­ti­fi­ca­tions of Ma­jor Hold­ings (Sec. 33 et seq. WpHG)
      • TEST_ No­ti­fi­ca­tions of Ma­jor Hold­ings (Sec. 33 et seq. WpHG)
      • In­sur­ance Su­per­vi­sion
      • Po­si­tion lim­its for com­mod­i­ty deriva­tives
      • In­sur­ance Su­per­vi­sion - Sol­ven­cy II
      • Po­si­tion lim­its for com­mod­i­ty deriva­tives
      • Prospec­tus­es
      • Trans­ac­tion re­port­ing (Ar­ti­cle 26 of the Mi­FIR)
      • Ref­er­ence and Trans­paren­cy Da­ta
      • Buy-back pro­grammes and sta­bil­i­sa­tion mea­sures
      • Set­tle­ment in­ter­nalis­ers
      • Re­cov­ery plan­ning based on the sim­pli­fied re­quire­ments
    • SSM IMAS Por­tal
    • Newslet­ter
    • Events
    • Di­rec­tions to BaFin
    • Calls for ten­der
  • Da­ta pro­tec­tion
    • In­for­ma­tion on da­ta pro­cess­ing
• Deutsch
• BaFin’s Con­tact Point for Whistle­blow­ers
• Con­sumer helpline
• Me­dia con­tacts
  • Pic­ture archive
• Con­tact us
  • Me­dia con­tacts
    • Pic­ture archive
  • Con­sumer en­quiries and com­plaints
  • Ques­tions on the au­tho­ri­sa­tion re­quire­ment for fi­nan­cial busi­ness­es
  • Non-Ger­man com­pa­nies and is­suers of se­cu­ri­ties
  • Oth­er ques­tions re­lat­ing to su­per­vi­sion
  • BaFin’s Con­tact Point for Whistle­blow­ers
  • Po­ten­tial ap­pli­cants
  • Group vis­its
  • Se­cure e-mail com­mu­ni­ca­tion
  • Legal­ly valid e-mail com­mu­ni­ca­tion
  • Ques­tions and prob­lems re­gard­ing the BaFin web­site