Regulatory Alerts2016-01-04
Guidance Notice on Members of Administrative and Supervisory Bodies pursuant to KWG and KAGB
Issued by BaFin, this guidance notice establishes comprehensive notification requirements and suitability criteria for members of administrative and supervisory bodies across German credit institutions, financial holding companies, and KAGB undertakings. It mandates the timely submission of specific documentation, including curricula vitae, certificates of good conduct, and trade register excerpts, while clarifying the division of assessment responsibilities between BaFin, the Deutsche Bundesbank, and the European Central Bank. The notice further details ongoing reporting obligations, mandate limitations, and conflict-of-interest rules to ensure robust governance and regulatory compliance.
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