Tag: BaFin

February 07, 2022 BY Steffy Bogdanova

German regulator BaFin issues warning on social posts on crypto assets

Moreover, BaFin highlighted that there are many investment tips circulating on social media about crypto stocks and other financial products which are not reliable. They may even be false, misleading or fictitious. BaFin stated in the official warning: Digital, lucrative and trendy: this is the image that crypto assets now have among private investors. However,…

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December 29, 2021 BY Steffy Bogdanova

BaFin imposes a €8.6 million fine on Deutsche Bank AG

BaFin stated: It requires contributors to have in place effective systems and controls. Contributors are natural or legal persons who contribute data for determining benchmarks. In the European Union, the Euro Interbank Offered Rate (EURIBOR) is used as benchmark, for example. Breaches of the Benchmarks Regulation can result in a fine which can reach up…

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October 21, 2021 BY Steffy Bogdanova

BaFin investigates trading platform coinstrades.com

Under the German Banking Act (Kreditwesengesetz – KWG), companies conducting banking business or provide financial services in Germany are required to have an authorisation. BaFin stated: BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that anyone seeking to invest money online should exercise the…

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BaFin warns about the paradigm shift following Brexit
October 14, 2021 BY Steffy Bogdanova

BaFin to get "more bite" in new supervision reforms

Mark Branson said in his first conference since taking the new position: But for me, this is only the beginning of BaFin's long-term development. It will take time before we reach our objectives in all areas. Among the new measures taken this year to deliver on strengthening BaFin’s powers, task forces to oversee companies with…

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BaFin warns about the paradigm shift following Brexit
June 29, 2021 BY Steffy Bogdanova

Coinbase receives crypto license from German regulator BaFin

Coinbase also discussed in its press release the already thriving scene surrounding blockchain and noted that Germany is, in fact, the second-ranking country after the US when measuring the amount of Bitcoin nodes being processed. The announcement revealed that Coinbase Germany GmbH is due to be launched in the next few weeks, intending to serve…

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Forex Weekly Look Back
January 29, 2021 BY Steffy Bogdanova

Forex Weekly Look Back: Robinhood to restore GameStop trading, Brokeree integrates Liquidity Bridge with Ausprime

Germany’s Federal Financial Supervisory Authority (BaFin) filed criminal complaint on Thusrday against one of its employees for suspected insider trading in payments company Wirecard. BaFin said that the employee of the securities supervision department sold structured products based on Wirecard on 17 June 2020. The date is one day before Wirecard’s auditor EY found that 1.9…

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BaFin employee suspected of Wirecard insider-trading
January 28, 2021 BY Steffy Bogdanova

BaFin suspects employee of Wirecard insider-trading

Fabio De Masi, one of the German lawmakers driving a parliamentary inquiry into the affair, commented: “The finance ministry saw no need to take action on insider trading at the supervisory authorities at the outset of the Wirecard scandal. There is still a need to apply stricter EU rules on insider trading to German authorities.…

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BaFin warns about the paradigm shift following Brexit
December 30, 2020 BY Steffy Bogdanova

BaFin warns about the paradigm shift following Brexit

The new agreement will take effect on provisional basis on 1 January 2021. The agreement is expected to be approved by the European Council by the end of the year and its provisional applications are to apply until 28 February 2021. The European Parliament needs to make final decision on the final application of the…

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Forex Weekly Look Back
July 03, 2020 BY Steffy Bogdanova

Forex Weekly Look Back: FXSpotStream reports third highest ADV month ever, BDSwiss secures FSA Seychelles license

The UK Financial Conduct Authority suspended Wirecard’s UK subsidiary and left thousands of people in the UK unable to access their money. The UK regulator froze Wirecard Card Solutions’ UK lincense to protect the company's clients following the German-based parent company Wirecard AG filing for insolvency on Thursday last week after accounting firm Ernst & Young…

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