Germany

BaFin General Administrative Act on Countercyclical Capital Buffer

BaFin has issued a general administrative act increasing the domestic countercyclical capital buffer rate to 0.25%. This change is effective July 1, 2019, and will be used for institution-specific calculations starting July 1, 2020. The act applies to various financial institutions.

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 Decreases Domestic Countercyclical Capital Buffer Rate

BaFin has issued a General Administrative Act reducing the domestic countercyclical capital buffer rate to 0% effective April 1, 2020. This measure aims to support credit institutions during the current economic situation.

BaFin Administrative Act on Cross-Border Insurance Activities

BaFin has issued a general administrative act to regulate the conduct and run-off of cross-border activities of insurance undertakings. This act provides specific criteria and outlines the discretionary powers and proportionality considerations for BaFin's orders.

BaFin Issues General Administrative Act on Binary Options

The German Federal Financial Supervisory Authority (BaFin) has issued a general administrative act prohibiting the marketing, distribution, or sale of binary options to retail clients. This action aligns with EU-wide measures and aims to enhance investor protection.

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 General Administrative Act on Countercyclical Capital Buffer

BaFin has increased the domestic countercyclical capital buffer rate to 0.75 percent, effective February 1, 2022. This new rate will be used for institution-specific calculations starting February 1, 2023. The act supersedes the previous administrative act from March 31, 2020.

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.

BaFin Administrative Act on CFD Marketing and Distribution

BaFin has issued a general administrative act prohibiting the marketing, distribution, and sale of Contracts for Difference (CFDs) to retail clients if they may result in an additional payment obligation. This measure aims to protect retail investors from potentially unlimited losses.

BaFin Prohibits Net Short Positions in Wirecard AG Shares

Germany's BaFin has issued an administrative act prohibiting the establishment and increase of net short positions in Wirecard AG shares. This measure is in response to adverse events threatening market confidence and is effective until April 18, 2019.