Federal Financial Supervisory Authority (BaFin)

The Federal Financial Supervisory Authority (BaFin), as the financial market supervisory authority, controls all areas of finance in Germany. Its main task is the control of banks, insurance companies and securities trading. It reports to the Ministry of Finance.

BaFin is responsible for ensuring that the markets for securities and derivatives function properly. This results in the objectives of protecting investors, maintaining market transparency and ensuring market integrity.

In order to achieve these goals, the Federal Financial Supervisory Authority also performs other tasks:

• Pursuing and preventive combating against the exploitation of information leaps, known as insider trading.
• Monitoring of the obligation pursuant to § 15 WpHG to report all transactions in own securities and derivatives - the so-called Directors' Dealings.
• Monitoring the ad hoc publicity of listed companies.
• Monitoring of publicity in the event of changes in voting rights in companies listed on the Regulated Market.
• Monitoring the rules of conduct and organisational obligations of investment service providers.
• Filing for securities sales prospectuses.
• Monitoring of securities acquisition offers, takeover offers and mandatory offers pursuant to the WpÜG.

Investors who feel ill-advised and have lost money as a result or for whom an offer appears doubtful can contact BaFin directly.

In the event of well-founded complaints, BaFin contacts the institution concerned and pursues the matter. However, it should be noted that the Federal Financial Supervisory Authority has no legal basis for reclaiming the money.

• BaFin website at bafin.de: Hotline for investors, database with securities prospectuses, warning notice

June 2019 © Deutsche Börse