Region: Germany

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 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

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

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

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

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

The UK’s Financial Conduct Authority has fined the London arm of German lender Commerzbank £37.8 million for failing to establish robust anti-money laundering controls.

18 June 2020

The Bank for International Settlements has hired a new deputy head of banking, and a head for its new innovation hub’s Hong Kong office.

22 May 2020

The UK Financial Conduct Authority is investigating 14 financial institutions in connection with an alleged tax fraud that is estimated to have cost European countries over €50 billion.

01 May 2020

Practitioners say German authorities have several avenues to sanction banks that were spared penalties in the country’s inaugural cum-ex trial.

03 April 2020