The amended version of the Minimum Requirements for Risk Management ( Mindestanforderungen an das Risikomanagement – MaRisk) is. After comments on the MaRisk draft of 18 February had been examined in detail and Bundesbank and BaFin have jointly redrafted the ICAAP guideline and published it on MaRisk in the version of 15/12/ Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) Annex 1: Annotated text of the Minimum Requirements for Risk Management (MaRisk) in Securities Trading Act in conjunction with Circular 4/ (WA) –.

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Mrisk also monitors in general compliance with all laws applicable to the operation of insurance businesses. This excludes insurers that operate in only one province. Retrieved 20 May The main task of BaFin is the supervision of banks, insurance companies and the trading of securities and ensure the viability, integrity and stability of the German financial system. For investors, bank customers and insured it ensures confidence in the financial markets and the companies operating therein.

Did you find this article helpful? Throughout their operation, financial institutions are subject to ongoing supervision by the BaFin. In view of the rapid developments on mariak financial markets, modern regulation cannot rely on compliance with quantitative indicators alone, but must focus in particular on institutions’ risk management.

BaFin – Risk management

It can also be contacted anonymously under the procedure. The Examination by the Federal Koblenz noted in March that the internal control system of authority is insufficient. The MaRisk have undergone several revisions due to recent developments and international regulatory initiatives.

German federal financial administration.

The Banking Law provides BaFin an extensive arsenal of sanctions including criminal bbafin, ranging from written warnings of fines to withdrawal of banking license. The supervisor shall include the monitoring of security assets and solvency to ensure that insurance contracts can be met. Similar to bank supervision, the Insurance Supervision Law VAG requires insurance companies to receive and maintain their business with approval of BaFin, and the conditions are similar to those of banking supervision.


The MaRiskwhich were developed in collaboration with industry professionals, provide a principles-based framework that gives institutions the flexibility to implement solutions individually.

Federal Financial Supervisory Authority

Retrieved March 9, InBaFin opened a new office dedicated to corporate whistleblowers, aiming to encourage more business insiders to expose wrongdoing. It is an independent federal institution marsk headquarters in Bonn and Frankfurt and falls under the supervision of the Federal Ministry of Finance Germany. As a financial market-based institution BaFin is responsible to both providers and consumers.

In particular, the buying and selling of shares by company management in the same company is monitored closely Directors Dealings.

Bxfinthe Federal Court revealed the embezzlement of more than 4 million euro by 2001 Raumann, the former head of information technology at BaFin, [11] for which he was indicted and convicted by the Bonn district court.

It has the right, when it discovers a crime or even the suspicion of a crime, in particular insider trading, market manipulationillegal operation of banking, financial fraud, incitement to establish stock exchange speculation to forward them to law enforcement authorities.

Bundesfinanzministerium Generalzolldirektion Oberfinanzdirektion Bundesfinanzdirektion Bundeszollverwaltung Hauptzollamt Zollamt Abfertigungsstelle. BaFin supervises about 2, banks, financial services institutions and over insurance undertakings. These are a necessary condition for a functioning financial bafn. As of DecemberBaFin regulated approximately 1, banksfinancial services institutions, insurance companies31 pension funds, 6, domestic investment funds and investment companies.

Tools Switch to article “Risikomanagement” in language De utsch. Retrieved from ” https: As institutions are increasingly obtaining IT services from third parties, including as part of outsourcing arrangements, the 201 also set out the requirements for the external procurement of IT services.


This information must be provided to BaFin by all financial institutions in Germany. Bildungs- und Wissenschaftszentrum der Bundesfinanzverwaltung. As part of this BaFin collects information on all securities traded as well as disclosures from listed companies from all market participants.

#LoungeTalk: MaRisk VA

Breadcrumb You are here: This information is used to detect insider trading, price and market manipulation. On the supply side it pays attention to the solvency of banks, insurance companies and financial institutions.

Moreover, the MaRisk contain numerous opening clauses which ensure that smaller institutions can also comply with the requirements in narisk flexible way.

Shortly after the publication of the information, BaFin asked the Munich public prosecutor’s to raise a criminal complaint against persons unknown on suspicion of breach of statutory duty of confidentiality. This page was last edited on 15 Novemberat On 19 Mayin response to European sovereign debt crisisBaFin banned naked short selling of credit default swaps on euro-area government bonds until 31 March The aim bzfin to increase customer protection and the reputation of the financial system.

This includes in particular the prevention of insider trading and other market abuses such as price and market manipulation. It shares responsibility here with the Bundesbank. Bqfin takes into account the management, minimum capital requirements, reliability, solid leadership and the sustainability of business when approving licenses.

This meant there was uniform national supervision of bankscredit institutionsinsurance companiesfinancial service companies, brokers and stock exchanges. In other projects Wikimedia Commons.