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Topic Authorisation requirements Authorisation requirements

Article from the Annual Report 2016 of the BaFin

In the year under review, BaFin received 1,022 new requests to examine whether an authorisation was required (previous year: 918). It concluded 1,150 such requests in 2016 (previous year: 1,092; see info box "Authorisation requirements").

Authorisation requirements

As part of its responsibilities, BaFin examines whether investment and retirement savings offerings require authorisation under the Banking Act (Kreditwesengesetz), Insurance Supervision Act (Versicherungsaufsichtsgesetz), Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz) or the Investment Code (Kapitalanlagegesetzbuch). If so, the provider will require authorisation to carry on its business.

If necessary, BaFin can enforce supervisory measures to ensure that the companies comply with the authorisation requirement.1

Guidance notices issued by BaFin allow providers of new business models to perform an initial self-assessment before launching an investment offering. Moreover, potential operators can ask BaFin on a voluntary basis to examine whether their business venture requires authorisation. This gives them a higher level of legal certainty.

Footnotes:

  1. 1 See for information on supervisory measures.

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Publications on this topic

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