Areas of law

Banking supervisory law

In the area of banking supervisory law, our clients include domestic and foreign institutions, founders and acquirers/sellers of institutions as well as companies that are somehow being targeted by the supervisory authorities.

We follow the relevant European and German legal developments from the outset, are familiar with the administrative practice of the supervisory authorities and maintain good relationships with the relevant associations.

We advise our clients and represent them vis-à-vis the supervisory authorities, as a last resort even in court.

Our range of consulting services includes the following areas:

Conduct of Business Rules under the German Securities Trading Act and supplementary European legislation (MiFID II). In this regard, we focus on the requirements for the appropriateness/suitability test and the Execution Only requirements, the appropriateness of contributions, product governance regulations and the regulatory review of advertising materials. In this context, we also advise financial investment brokers on their obligations under the German Investment Intermediaries Ordinance [Finanzanlagenvermittungsverordnung, FinVermV].

Regulatory requirements for the remuneration systems of institutions, in particular, in accordance with the German Banking Act [Kreditwesengesetz, KWG], the German Ordinance on the Supervisory Law Requirements for Remuneration Systems [Verordnung über die aufsichtsrechtlichen Anforderungen an Vergütungssysteme von Instituten, InstitutsVergV] and the Second Markets in Financial Instruments Directive [Richtlinie über Märkte für Finanzinstrumente, MiFID II]. We have been actively involved in this area since the first Ordinance on the Supervisory Law Requirements for Remuneration Systems was drafted in 2010. Together with our labor law specialists, we provide comprehensive advice to our clients on the implementation of the increasingly complex regulatory requirements.

Money laundering prevention: We assist our clients with their due diligence and organizational obligations as well as in suspected cases of money laundering; when it comes to money laundering, we also draw on the expertise of our colleagues who specialize in criminal law.

We provide comprehensive assistance for outsourcing projects in close cooperation with our colleagues from corporate law, labor law, IT and data protection.

We advise buyers and sellers of institutions on supervisory considerations, in particular on the ownership control procedure vis-à-vis BaFin and the ECB.

We provide interdisciplinary support in all relevant areas of law that are involved in the establishment of institutions. We advise our clients on supervisory law, starting from the creation the conditions for the filing of the license application (particularly the selection of suitable managers), the licensing procedure with BaFin and the ECB and the establishment of ongoing business operations.

European passport: We advise foreign companies on entering the German market and on the residual application of German supervisory law.

Avoidance of licensing requirements: Companies often run the risk of unintentionally becoming subject to licensing requirements due to their business model. In these cases, we advise on how to avoid licensing obligations under the German Banking Act, the German Payment Services Supervision Act and the German Capital Investment Code.

We provide information on selected topics at our regulatory breakfast events and in client newsletters and are academically recognized due to our collaboration on a leading KWG commentary and regular regulatory law articles in the juris PraxisReport on Banking and Capital Market Law.

Industries and Expertise

Specialists

Dr. Friedrich Bozenhardt

Partner;Attorney-at-law (Germany);Certified attorney in commercial and corporate law

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