Archiv für die Kategorie ‘Banking Law’

PSD 3 & PSR: Implications for Licensed Payment Services in Germany

Sep 19, 23 • Banking Law, Banking Regulations • No Comments • Dr. Annette Wagemann

On June 28, 2023, the European Commission unveiled its draft for an updated European Payment Services Directive, known as the Payment Services Directive 3 (PSD 3). The aim of PSD 3 is to further streamline the laws across member states, while […]
Entrepreneur Loan in Germany: Risks, Restructuring, Contract Clauses

Sep 29, 20 • Banking Law • No Comments • Dr. Annette Wagemann

Rapid debt relief for viable companies in financial difficulties through EU restructuring directive On June 20, 2019, the European Parliament and the Council of the European Union issued Directive (EU) 2019/1023, referred to as the “Restructuring Directive”. The directive is to […]
Advance Payments in Germany During Corona Times – Secure Your Business

Jun 30, 20 • Banking Law • No Comments • Dr. Annette Wagemann

We are currently increasingly noticing that many companies in Germany are demanding advance payments for their goods and services. Entrepreneurs often go into high financial outlay (working time, materials, etc.). Therefore, they use the possibilities to reduce the financial risk by […]
Banks Can Now Enter The Crypto Business in Germany

Apr 3, 20 • Banking Law, Digital Currencies • No Comments • Benjamin Kirschbaum

As a result of the implementation of the fifth money laundering directive, crypto values were included in the German Banking Act (KWG). This long-awaited regulation of cryptocurrencies now enables banks to store crypto values for their customers in addition to their […]
Banking License and Brexit: Here is the Cost of a German BaFin License

Mar 29, 19 • Banking Law, Banking Regulations • No Comments • Dr. Annette Wagemann

The UK is presently heading for a “hard” Brexit. If this happened, the country would leave both the EU and the European Economic Area. Many UK banks and financial services providers are therefore right to consider relocating their domicile or business […]
Collateral Security Law: No General Right to Exchange Collaterals in Germany

Dec 29, 17 • Banking Law • No Comments • Dr. Annette Wagemann

The German Federal Court of Justice (Bundesgerichtshof; “BGH”) recently ruled that a collateral provider, which has agreed on a specific collateral with a secured party, may not demand that said collateral be exchanged for a different one the provider finds more […]
Banks cannot charge fee for every transaction on business accounts

Sep 23, 15 • Banking Law • No Comments • Stefan Winheller

In a judgment dated July 28, 2015, the German Federal Court of Justice held that a bank’s general terms and conditions that set a fee of EUR 0.32 for every transaction are ineffective. In the case at issue, the terms and […]