BaFin Administrative Acts

BaFin - Prohibition on Net Short Positions in Wirecard AG Shares

BaFin has issued a General Administrative Act prohibiting the establishment or increase of net short positions in Wirecard AG shares. This measure is effective immediately and will remain in place until April 18, 2019, due to serious threats to market confidence.

BaFin General Administrative Act on CFDs

BaFin has issued a General Administrative Act prohibiting the marketing, distribution, and sale of Contracts for Difference (CFDs) to retail clients if they result in an additional payment obligation. This measure aims to protect consumers from excessive risk and is effective from August 10, 2017.

BaFin Hearing on Prohibition of Credit-Linked Notes to Retail Clients

BaFin has issued a hearing regarding a proposed administrative act to prohibit the marketing, distribution, and sale of credit-linked notes to retail clients in Germany. The comment period for this proposed prohibition closes on September 2, 2016.

BaFin Administrative Act on Netting Agreements

BaFin issued a general administrative act to ensure legal certainty for netting agreements under German insolvency law. This act clarifies the settlement of such agreements for institutions and their counterparties, effective from June 10, 2016, until December 31, 2016.

BaFin Administrative Act on Countercyclical Capital Buffer Rate

BaFin issued a General Administrative Act setting the countercyclical capital buffer rate at 0% effective January 1, 2016. This decision was based on an analysis of the credit-to-GDP gap and other economic indicators, indicating no excessive credit growth requiring a higher buffer.

BaFin Order on Insurance Undertaking Complaints Management

BaFin has issued a collective decree requiring insurance undertakings authorized to conduct cross-border business in Germany to establish a complaints management function. Insurers must also submit an annual report on complaints received by March 1st.

BaFin Order on Insurance Undertaking Complaints Management

BaFin has issued an administrative act ordering primary insurers authorized to conduct cross-border business in Germany to establish a complaints management function. Insurers must also submit an annual report on complaints received, detailing complaint types, causes, and resolution status.

BaFin - Countercyclical Capital Buffer Rate Set to 0%

BaFin has issued a general administrative act setting the rate for the countercyclical capital buffer at 0% effective January 1, 2016. This decision is based on an analysis of the credit-to-GDP gap and other economic indicators, which indicated no need for an active buffer at this time.

BaFin Administrative Act on Netting Agreements

BaFin issued a general administrative act to ensure legal certainty for netting agreements under German insolvency law. This act clarifies the settlement of contractual netting agreements for institutions and their counterparties, applying from June 10, 2016, until December 31, 2016.

BaFin Hearing on Prohibition of Credit-Linked Notes to Retail Clients

BaFin has issued a hearing regarding a proposed administrative act to prohibit the marketing, distribution, and sale of credit-linked notes to retail clients. The comment period for this proposed prohibition closes on September 2, 2016.