Region: Germany

BaFin president heads for exit following Wirecard scandal

Germany’s top financial regulatory official has agreed to step down in the aftermath of the Wirecard scandal, as the German government prepares to reorganise the country’s watchdog.

02 February 2021

New year, new promotions

Morrison & Foerster, Allen & Gledhill and Hogan Lovells have all included banking regulation practitioners in their new year promotions rounds.

11 January 2021

White & Case promotes in Frankfurt; Davis Polk in New York and Hong Kong

White & Case and Davis Polk & Wardwell have both named new counsel practising in banking regulation.

07 December 2020

Santander snaps up Wirecard payments platform, with A&O advising

Allen & Overy is advising Santander on its acquisition of Wirecard’s core technology assets, the latest in a series of firesales at the collapsed German payments firm which is facing claims worth over €12 billion.

18 November 2020

"No grey areas" around crypto as Germany introduces digital securities bill

Germany’s finance ministry has announced a blockchain-based digital securities bill as regulator Bafin confiscates ATMs belonging to a Polish-owned crypto provider.

19 August 2020

Germany’s Bafin clears up indirect lending rules

Germany’s banking regulator has clarified elements of its Bank Separation Act, stressing that special-purpose vehicles controlled by investment funds can assume the default risk when borrowing from fully-licenced banks.

12 August 2020

ESMA to scrutinise BaFin Wirecard response

The European Securities and Markets Authority has launched a probe into German regulator BaFin’s financial reporting system in the wake of payment company Wirecard’s collapse.

20 July 2020

Wirecard saga exposes cracks in German financial regulation

German payment company Wirecard’s €2 billion accounting scandal illuminates some of the country’s supervisory shortcomings, but criticism of the financial regulator could be misplaced, practitioners say.

08 July 2020

Cum-ex and other forms of dividend arbitrage – implications for financial institutions in the UK

RPC partners Adam Craggs and Michelle Sloane, and associate Alice Kemp, consider the recent convictions in the first criminal trial related to Cum-ex trades, and the ongoing impact for financial institutions in the UK.

29 June 2020

BaFin “rocked asleep” by Wirecard hype

German regulator BaFin is facing questions over its supervision of fintech company Wirecard, which announced on Monday that €1.9 billion had vanished from its balance sheet.

24 June 2020

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