The financial markets watchdog (Marktwächter Finanzen) was again an important cooperation partner for BaFin on consumer protection issues in 2017. Established in 2015, this watchdog observes and analyses the financial market from the consumers' perspective through five specialised focused consumer protection organisations. As in previous years, meetings were held in 2017 with all markets watchdog teams from Frankfurt, Hamburg, Bremen, Leipzig and Stuttgart. At these meetings, BaFin presented the latest studies and investigations and the markets watchdogs gave information on current cases from the early warning network of the consumer protection organisations.

Specific cases were also discussed by BaFin and the representatives of the markets watchdogs, which reported, for example, on their investigations into losses on the unregulated capital market, experience with conducting creditworthiness assessments following the implementation of the Mortgage Credit Directive and with annual statements for life insurance as well as on the results of a special investigation by the markets watchdog into early repayment penalties in real estate financing. In return, BaFin reported on its latest supervisory practice observations and on how it assesses legal issues, among other topics. For example, the meeting with the markets watchdog team from Frankfurt explored whether investments in gold should be considered capital investments, and how BaFin deals with such cases.