Regulators： German Federal Financial Supervisory Authority

Regulatory region： German

License Type： Retail Foreign Exchange License

Application price (USD)： ****

Application frequency： six months

Maintenance costs (USD)： ****

Company summary： brief introduction On May 1, 2002, Germany merged the Deutsche Bundesbank with insurance regulatory and securities regulatory agencies to establish a unified regulatory organization - BaFin. The Federal Financial Supervisory Authority (BaFin) is a federal agency controlled by the Minister of the Federal Treasury through public law. Having legal characteristics. The Federal Financial Supervisory Authority (BaFin) regulates 2700 banks, 800 financial service institutions, and over 700 insurance institutions. responsibility 1. Review of market access;

Product details： 2. Inspect the daily operations of the company. If the company has any violations, the Federal Financial Supervisory Authority can directly punish the discovered violations in accordance with the law. There are several ways of punishment: 1. fines; 2. File a lawsuit; 3. Revoke the qualifications of responsible members of the board of directors; 4. Revocation of business license. 3. Protecting consumer rights and interests supervise Regulatory scope: Credit financial institutions, insurance businesses, pension funds, payment companies, German management companies, securities trading, deposit guarantee plans, etc