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Archiv für die Kategorie ‘Banking Regulations’
German BaFin Classifies Tokenised Investments as Securities
In its latest journal, the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungen, BaFin) has addressed the regulatory assessment of financial instruments that are brought onto the blockchain. This so-called tokenisation means that instruments such as shares, bonds or subordinated loans can […]
Banking License and Brexit: Here is the Cost of a German BaFin License
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 […]
BaFin Confirms Regulatory Exemption of Utility Tokens in Germany
In the past, we already reported about so-called Initial Coin Offerings (ICO) that may be a suitable alternative source of corporate financing. Until recently, however, the regulatory situation was uncertain. The Federal Financial Supervisory Authority (BaFin) had already classified Bitcoins as […]
Payment Services Directive (PSD II) Under Privacy Law: Challenges for Payment Services Providers
New regulations for payment services providers in Europe Payment services have seen significant technical innovations in recent years. These led to a fast increase in electronic and mobile payments and the creation of new payment methods, like Paypal, Giropay or instant […]
Protection Against Cyberattacks for German Banks and FinTechs
Digital attacks against banks and financial services providers pose major challenges not only on that sector but also on the legislator and the financial supervisory authorities. In 2017, nearly 10 billion cyberattacks occurred worldwide. Apart from spam and phishing, the main […]
Regulation of ICOs in Germany and at international level
The common opinion that Initial Coin Offerings (ICO) are a form of raising capital that is subject to no regulations is increasingly facing headwinds from international regulatory authorities. Supervisors in many countries have made it clear through public statements that ICO […]
Initial Coin Offerings: A New Type of Corporate Financing
Recently, numerous start-ups have raised substantial amounts of money as funding for their business ideas through so-called initial coin offerings (ICOs). Essentially, these companies create their own cryptocurrency and sell its tokens to interested investors. The tokens as such confer no decision-making […]
Money Laundering Act: New Notification Requirements for Companies and NPOs in Germany
Almost every German business affected The alterations will affect almost everyone: Legal entities (GmbH, AG, SE, association, foundation), registered partnerships (OHG, KG, GmbH & Co. KG), as well as administrators of trusts and trustees of non-legal (dependent) foundations and other legal […]
After Brexit: Rising number of foreign banks consider moving to Frankfurt
“It’s not enough just to install a letterbox.” With these words Peter Lutz, deputy executive director at the German financial supervisory authority, closed a workshop on the Brexit organized for foreign banks. Since the United Kingdom has voted out of the […]
Payment Accounts Directive – banks will soon have to set up an account for anyone
As of this summer, the new Payment Accounts Directive will be transposed into the national law of each member state of the European Union. For this reason, the German Bundestag adopted the new German Act on Payment Accounts on April 11, […]