Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 27 AUGUST 2026

Investment Management Client Alert August 2026

K&L Gates
K&L Gates
Contributor
K&L Gates

K&L Gates

The Firm K&L Gates is an integrated, international law firm. As a single global law firm, truly...

View firm profile
Explore more from K&L Gates

Germany's implementation of the EU AI Regulation assigns BaFin as the market surveillance authority for AI systems in financial services, while new guidance clarifies investment product classifications under PRIIPs and establishes transitional rules for ESG rating providers. BaFin also provides supervisory guidance on the Payment for Order Flow ban affecting investment firms and neo-banks.

GermanyFinance and Banking
Philipp Riedl
Philipp Riedl
Hilger Von Livonius
Hilger Von Livonius
Martin Berg
Martin Berg
Susanne Albrecht-Roggenstroh, Dipl.-Kffr.
Susanne Albrecht-Roggenstroh, Dipl.-Kffr.

Law Implementing the EU AI Regulation Takes Effect

On 29 July 2026, the Law Implementing the European Union (EU) Artificial Intelligence (AI) Regulation (Regulation (EU) 2024/1689) came into force. It has generally been directly applicable since 2 August 2026 and has established a uniform legal framework for the development, placing on the market, putting into service, and use of artificial intelligence systems (AI systems) in the EU. A key component of this act is the Act on Market Surveillance and the Promotion of Innovation in Artificial Intelligence (AI-MIG).

Section 2(3) of the AI-MIG assigns the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) the role of competent market surveillance authority for AI systems directly related to a regulated financial activity that are placed on the market, put into operation, or used by certain companies supervised by BaFin. This applies in particular to credit institutions, financial services

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

MISP Moves Into Political Negotiation: What More Than 1,900 Amendments Mean For The EU’s Future Market Architecture

The European Parliament has tabled over 1,900 amendments to the Market Integration and Supervision Package, transforming it from a straightforward proposal into a complex negotiation between competing models for European market supervision and infrastructure. As the Commission's original December 2025 proposal becomes obsolete and multiple parliamentary drafts emerge with conflicting visions, financial firms face critical questions about which supervisory architecture will ultimately govern their licenses
GermanyFinance and Banking
PwC Legal Germany
PwC Legal Germany
Article

Preparing For The Overhaul Of The German Licensing Regime For Credit Intermediaries

Germany is implementing a stricter licensing regime for consumer credit brokers starting November 2026, requiring proof of expertise and prohibiting sales-based compensation. The new rules expand requirements for intermediaries while exempting small and medium-sized enterprises that finance their own sales, fundamentally reshaping how credit brokerage operates in the German market.
GermanyFinance and Banking
Skadden, Arps, Slate, Meagher & Flom LLP
Skadden, Arps, Slate, Meagher & Flom LLP
Article

Text-Message Marketing In Texas, One Year After SB 140

Texas Senate Bill 140 (SB 140) took effect 1 September 2025, and applies to conduct occurring on or after that date. The bill amended Section 302 of the Texas Business and Commerce Code to extend registration and disclosure requirements to text messages by expanding the definition of “Telephone solicitation,” which previously applied only to a “telephone call,” to include certain transmissions of text or graphic messages and images. In addition, SB 140 added a definition of “Telephone call” that incorporates the definition found in Section 304, which includes certain text or graphic messages and images, but excludes certain agreed-to transmissions.
United StatesMedia, Telecoms, IT, Entertainment
K&L Gates
K&L Gates
Article

SEC And CFTC Open Door To Tokenized Markets After Clarity Fails To Advance

The SEC and CFTC have issued coordinated regulatory relief measures that significantly advance crypto-based trading infrastructure in US markets, bypassing Congressional gridlock on the CLARITY Act. These orders establish new frameworks for tokenized securities venues and passive software providers, potentially reshaping how digital assets are traded and accessed in regulated markets.
United StatesFinance and Banking
K&L Gates
K&L Gates
Article

Venezuela's Reopening: Investment, Infrastructure, And Technology Opportunities In A Rebuilding Latin America

Venezuela's post-Maduro reopening is creating unprecedented opportunities for foreign investors across energy, mining, telecommunications, and infrastructure sectors. With expanding OFAC sanctions relief, landmark legislative reforms, and major US companies nearing multibillion-dollar deals, the country presents investment prospects not seen in a generation—though success requires disciplined navigation of corruption, security, and regulatory risks.
United StatesInternational Law
K&L Gates
K&L Gates
Article

EU AI Act: Final Guidelines On Transparency Obligations Under Article 50

The European Commission has issued guidelines on transparency obligations under Article 50 of the EU AI Act, clarifying how providers and deployers must inform individuals when they interact with AI systems or are exposed to AI-generated content. These non-binding guidelines address a wide range of AI applications, from chatbots to deepfake technologies, and establish four main transparency scenarios with specific disclosure requirements that businesses must now prepare to implement.
European UnionGovernment, Public Sector
K&L Gates
K&L Gates
Article

New EU Withdrawal Button Requirement: Practical Implications And Recommendations For US And Global Online Sellers

The European Union's new Consumer Rights Directive amendment introduces a mandatory "withdrawal button" for online merchants, fundamentally changing how consumers exercise their 14-day right of withdrawal from distance contracts. This requirement, effective June 19, 2026, applies to any trader—including US-based companies—actively selling to EU consumers, creating new compliance obligations around button placement, design standards, data collection, and confirmation processes. Understanding whic
European UnionConsumer Protection
K&L Gates
K&L Gates
Article

United States Opens A New Chapter In Civil Nuclear Cooperation With The Kingdom Of Saudi Arabia

The United States and Saudi Arabia have signed a landmark nuclear cooperation agreement under Section 123 of the Atomic Energy Act, establishing the legal framework for decades of civilian nuclear partnership. This agreement resolves years of debate over nonproliferation conditions and positions US companies to participate in Saudi Arabia's ambitious civil nuclear program. The deal carries significant implications for US engagement in the Middle East, international nuclear commerce, and the global competiti
GlobalGovernment, Public Sector
K&L Gates
K&L Gates