All posts tagged "BaFin"
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142AML / KYCGermany’s BaFin Fines N26 Over Weak AML Controls
The €4.25mn fine was paid in July but only made public by BaFin on 29 September. N26 says it already addressed the problems.
October 8, 2021 -
452EnforcementGlobal Regulators Heighten Scrutiny Over ESG Mislabelling – Reports
Increased scrutiny from US, EU and UK regulators have forced asset managers to review current practices for classifying funds as ESG-focused.
September 10, 2021 -
405EnforcementBaFin Joins US SEC, DOJ in Probing Collapsed Allianz Funds
Allianz is facing probes from BaFin, SEC and DOJ, as well as 25 investor lawsuits, over last year's collapse of its Structured Alpha Funds.
September 8, 2021 -
408EnforcementUS SEC, BaFin Probe DWS Over ESG Investment – Reports
The former global head of sustainability at DWS alleges that the firm overstated how many assets had been screened against ESG criteria.
August 31, 2021 -
278AML / KYCSFC Issues Warning on Unregulated Virtual Asset Platforms
Soon after the SFC's statement, Binance announced that stock tokens will no longer be available for purchase on its website.
July 18, 2021 -
242EnforcementUPDATED – BaFin Says Binance Stock Tokens Violate Securities Laws
The tokens require the publishing of a prospectus, "minimum information required by law" for the sale of an investment product.
May 5, 2021 -
278AML / KYCBaFin Orders Deutsche Bank to Further Enhance AML Controls
Deutsche Bank is asked to further bolster safeguards against financial crime, including in its correspondent banking relationships and transaction monitoring.
May 4, 2021 -
350AML / KYCBaFin Files Criminal Complaint Against Deutsche Bank Exec
Alexander Schütz is suspected of using inside information to trade Wirecard shares. A separate probe into EY's audits of Wirecard is continuing.
April 23, 2021 -
268Enforcement
BaFin Faces Criminal Probe Over Wirecard Response
BaFin has been under fire since mid-last year for failing to properly respond to multiple red flags signalling an accounting fraud at Wirecard.
April 15, 2021 -
321Europe
Germany’s BaFin to Be Reorganised, Top Officials Forced Out
Finance minister Olaf Scholz said the Wirecard affair revealed a need to reorganise Germany’s system of financial regulation “so that it can fulfil its supervisory role more effectively”.
February 1, 2021
