On 30 April 2021, GE BaFin issued FAQs on the impact of draft legislation.
- GE BaFin issued two FAQs on impact of bill on supervision of investment firms (WpIG).
- On whether existing ordinances will still apply to investment firms once WpIG in force.
- Follows GE GVT Feb. 2021 WpIG bill implementing EU Dir 2019/2034.
Large Exposures
- Also issued FAQ on GroMiKV (the ordinance governing large exposures and loans).
- Sections 13 and 14 of the KWG in conjunction with the GroMiKV will in future only be applicable to large securities institutions in accordance with Section 4 of the WpIG.
- For small and medium-sized securities institutions, the regulations on concentration risk will be in accordance with Arts 35 et seq. of EU investment firm regulation (IFR).
- GVT February 2021 WpIG bill implementing EU Dir 2019/2034.
