Archiv für die Kategorie ‘Banking Regulations’

• Electronic Vouchers: Regulatory Requirements for Issuance and Distribution in Germany

  Dec 20, 23 • Banking Regulations • No Comments • Dr. Annette Wagemann
  

  The sale of vouchers or prepaid cards is increasingly being offered by more and more online retailers. These can be redeemed in the retailer’s online shop or at other retailers. Many online retailers also give away vouchers as part of their […]

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• 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 […]

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• Crypto Assets: Regulation of Payment for Order Flow in Germany

  Mar 30, 23 • Banking Regulations, Digital Currencies • No Comments • Michael Kissler
  

  Payment for order flow (PFOF) is a controversial practice in the financial and crypto industry. It involves brokers receiving payment from market makers for directing customer orders to them. What is PFOF? Payment for order flow is a practice in which […]

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• New BaFin Information Sheets: An Overview of The Most Important Changes

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

  Changes for managers and supervisory bodies of regulated institutions under German supervisory law On June 3, 2020, the German Federal Financial Supervisory Authority (BaFin) submitted drafts of the information sheets it had revised as well as various forms of the Ordinance on […]

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• Crypto-Custody Business in Germany: BaFin Provides Licenses

  Feb 14, 20 • Banking Regulations, Blockchain, Digital Currencies • No Comments • Dr. Annette Wagemann
  

  As WINHELLER reported lately, the fifth European Money Laundering Directive was implemented by the German parliament in November 2019. The directive came into force on January 1, 2020. As a result, Germany and the other member states of the European Union […]

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• Crypto Exchanges: German BaFin License And New Obligations

  Dec 30, 19 • Banking Regulations, Blockchain, Digital Currencies • No Comments • Benjamin Kirschbaum
  

  On November 14, 2019, the German Bundestag passed a law to implement the fifth EU anti-money laundering directive. Among other things, it regulates cryptocurrencies and crypto custody transactions. Crypto exchanges now regulated by law The law also covers crypto exchanges which […]

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• Establishment of a Subsidiary for Financial Services in Germany

  Sep 26, 19 • Banking Regulations • No Comments • Dr. Annette Wagemann
  

  The establishment of a branch in Germany offers European companies an undreamt-of advantage. This advantage will be revealed below. Furthermore, the relevant supervisory law for the establishment of a subsidiary in Germany will be examined. Freedom of permission for the establishment […]

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• BaFin Publishes New Leaflet for ICOs and STOs

  Sep 26, 19 • Banking Regulations, Blockchain, Digital Currencies • No Comments • Benjamin Kirschbaum
  

  The Federal Financial Supervisory Authority (BaFin) has published a new, detailed information note on the current legal situation regarding the so-called Initial Coin Offerings (ICOs) and Security Token Offerings (STOs). The authority explains which licensing obligations may exist for an ICO, […]

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• Obligations of Issuers of Financial Instruments in Germany

  Jun 28, 19 • Banking Regulations, Capital Markets and Securities Law • No Comments • Dr. Annette Wagemann
  

  Companies raising money on the capital market by issuing shares or debt securities usually have to publish an information prospectus for investors. However, it is not enough for issuers to publish this so-called securities prospectus. There are a number of other […]

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• German Ministry of Finance Re-regulates Crypto Values

  Jun 28, 19 • Banking Regulations, Digital Currencies • No Comments • Benjamin Kirschbaum
  

  Bitcoin and other cryptocurrencies are not legal tender in Germany, but in the opinion of the Federal Financial Supervisory Authority (BaFin) they do represent so-called units of account. In connection with this, numerous activities such as the operation of a cryptocurrency […]

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