Since the Securities Institutions Act (WpIG) came into force on June 26, 2021, securities institutions have had their own supervisory regime. In addition to the directly applicable Investment Firm Regulation (IFR), the German Federal Financial Supervisory Authority’s (BaFin) General Regulation, which was not finalized until January 2024, also contains key provisions for securities institutions.
In a guest article in Betriebs Berater, KPMG Law expert Philippe Lorenz, together with Katharina Herdl and Jessica Hilsch, provides an overview of the current supervisory regime for securities institutions and draws an initial conclusion with regard to practice.
You can find the article here (PayWall).
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