Germany: Securities

European financial regulators are advancing major reforms across sustainable finance disclosure, investment firm risk management, and ESG ratings oversight. From stricter sustainability reporting requirements under SFDR 2.0 to streamlined fund reporting frameworks and new endorsement rules for third-country ESG ratings, these developments signal a significant shift in regulatory expectations for asset managers, investment firms, and rating providers operating in EU markets.

When a contractor faces financial distress, companies often make direct payments to the contractor's upstream suppliers to maintain supply chain continuity.

A major European credit institution's public takeover offer has triggered unprecedented regulatory intervention by Germany's BaFin, which issued a landmark order prohibiting sensationalist advertising on social media platforms.

On 29 October 2025, the Federal Cabinet adopted the draft of the Fund Risk Limitation Act (Fondsrisikobegrenzungsgesetz). The planned law is intended primarily to implement the amendments concerning the AIFM Directive

The principal body representing insolvency creditors is the creditors' assembly, through which creditors jointly exercise their rights vis-a-vis the insolvency debtor, the insolvency court and the insolvency administrator.

Typically, in the fourth quarter annually, EU-level authorities publish their Annual Work Programmes (AWPs).

On 11 September 2024, Germany's Federal Financial Supervisory Authority published an Information Sheet (01/2024 (WA)) specifying its expectations when a securities institution must appoint at least two people as its management i.e. as managing directors.

On 20 December 2023 the European Securities and Markets Authority (ESMA) published its 2023 Credit Rating Agency (CRA) Market Share Report.

Imagine you design, deploy and deliver (in record time) one of the most comprehensive (regulatory) sandboxes and no one turns up to play.