Regulatory Alerts2023-03-01
Classification System for Securities Firms and Financial Service Institutions
The BaFin issued this document in March 2023 to establish the classification system for securities firms and financial service institutions following the implementation of the Securities Trading Act (WpIG). It defines the criteria for categorizing institutions into Large, Medium, and Small securities firms, as well as specific Financial Service Institution (FDI) groups, based on balance sheet totals, asset under management, and transaction volumes. The text also delineates the regulatory status of entities engaged in crypto custody, crypto securities registry management, and other specific financial services under the German Banking Act (KWG).
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