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The European Parliament's Economic and Monetary Affairs Committee has published two draft reports on the Market Integration and Supervision Package that significantly expand the European Commission's proposals, introducing comprehensive direct ESMA supervision over all EU CCPs and CSDs, direct oversight of significant asset management groups, and a statutory competition mandate for ESMA. These far-reaching changes to EU capital markets supervision architecture will fundamentally impact regulated firms' supe

This booklet presents a summary overview of the corporate authorizations for capital raisings, convertible bond issuances and share repurchases of all German DAX and MDAX companies as of July 2019.

On 21 April 2022, the German Federal Ministry of Finance (BMF) published its long-awaited circular regarding the return of capital by non-European corporations.

Die zentralen europäischen Finanzaufsichtsbehörden haben ihre Jahresberichte für 2025 veröffentlicht und signalisieren damit einen fundamentalen Strategiewechsel in der EU-Finanzaufsicht. Der Fokus verlagert sich von der Entwicklung neuer Regulierungsrahmen hin zu datengetriebener Überwachung, praktischer Umsetzungskontrolle und konsequenter Durchsetzung bestehender Vorschriften. Für Finanzunternehmen wird die nachweisbare Wirksamkeit ihrer Kontrollen im EU-weiten Vergleich zum

The European Parliament's ECON Committee has published two draft reports on the Market Integration and Supervision Package that significantly expand ESMA's direct supervisory powers...

In a judgment of November 29, 2007 that is of particular interest to financial institutions involved in asset-based lending, the German Federal Supreme Court (Bundesgerichtshof) allayed concerns that a global assignment (Globalzession)—the assignment of all existing and future trade receivables to a lender to secure loans—would not survive the insolvency of the respective originator.

On 4 April 2023, the German Federal Ministry of Finance and the German Federal Ministry of Justice announced a draft bill for an Act on Financing of Future-Proof Investments.

Germany's financial regulator Bafin has published new risk management requirements specifically designed for small and medium-sized investment firms, marking a significant shift from the previous practice of applying credit institution rules. The WpI-MaRisk framework, effective January 2027, provides tailored supervisory expectations that better align with the unique characteristics and business models of investment firms. Investment firms now face the critical task of conducting gap analyses and restructur

The trading of credit portfolios—such as non-performing and non-strategic loan portfolios—on the secondary market in Germany essentially began in 2003.

On 22 March 2024, the Ger­man Fe­deral Coun­cil ap­pro­ved the Me­dia­tion Com­mit­tee's com­pro­mise pro­po­sal on the Growth Op­por­tu­nities Act.

This blog post is Part II of our series on the newly published BMF circular addressing cryptocurrencies and tax.

Wird ein Arbeitnehmer, der regelmäßig in einem bestimmten Betrieb des Unternehmens tätig ist und dort seinen Dienstsitz hat

The Commission Delegated Regulation (EU) 2024/1700 supplementing Regulation (EU) 2017/2402 with regard to regulatory technical standards ("RTS") was adopted on June 18, 2024.

On 22 October 2021, the three European Supervisory Authorities delivered to the European Commission the expected Final Report with draft Regulatory Technical Standards with respect to additional pre-contractual and periodic disclosure ...

Following Croatia's implementation of forced CHF loan conversion, the European Commission is now reviewing the legislation.

Die BaFin hat die finalen WpI MaRisk veröffentlicht, die ab dem 1. Januar 2027 neue Standards für kleine und mittlere Wertpapierinstitute setzen. Die Regelungen zur Compliance-Funktion wurden grundlegend neugefasst und die Auslagerungsanforderungen verschärft, wobei betroffene Institute frühzeitig relevante Anpassungen vornehmen sollten.

Generally speaking, a Blockchain is a peer-to-peer operated distributed digital ledger that records all transactions executed for a particular asset.