BaFin has 20 life insurers and 40 pension funds with man coverage – old-age provision

Life insurers and pension funds continue to groan under the low interest rates on the capital market. The number of providers who are under the cover of the Federal Financial Supervisory Authority (BaFin) has increased further. “There are currently around 20 life insurers and around 40 pension funds,” said Frank Grund, head of insurance supervision, […]

German financial regulator Bafin tackles the Bank of China

Bank of China building in Beijing At the German subsidiary of the Chinese state bank, the number of frictions with the financial supervisory authority has increased since a change in head at the end of 2017. (Photo: Reuters) Frankfurt, Düsseldorf A few years ago, the Frankfurt branch of the Bank of China was still very […]

BaFin News: Global Trading Swaps Inc., New York: BaFin investigates due to conversion offer for shares in Abanqo AG | 06/29/21

FRANKFURT (BaFin) – In accordance with Section 37 (4) of the German Banking Act (KWG), BaFin clarifies that Global Trading Swaps Inc., New York, which also appears on its website under Global Trading Swaps Financial Group Inc., does not have permission to operate Has banking business or providing financial services in Germany. The company […]

New security fund is putting the travel industry under pressure

Düsseldorf The bankruptcy of the tour operator Thomas Cook (“Neckermann”, “Öger”, “Condor”) in September 2019 has cost taxpayers an impressive 106 million euros. The aftermath is now even more expensive for competitors. The hardest hit, as a hearing in the Bundestag legal committee showed a few days ago, is the market leader Tui. Because the […]

Payment protection insurance: what consumers should consider

Loan agreement Residual debt insurance is often offered for loans, and consumers should take a close look at their costs. (Photo: dpa) Munich It is probably one of the most controversial insurances: The residual credit insurance – also called residual debt or credit default insurance – has long had a reputation among consumer advocates for […]

Brexit attracts more financial institutions to Germany than expected

View of Frankfurt at sunrise Several major foreign banks have chosen the Main metropolis as a hub for their European business. (Photo: REUTERS) Frankfurt Two weeks after the completion of Brexit, an initial conclusion can be drawn for Germany as a financial center: According to the Federal Ministry of Finance, 55 banks and financial service […]

BaFin warns savers in Krefeld about tricks by the savings banks

January 8, 2021 at 5:15 am Paid content: Krefelder complain : BaFin warns savers of the savings banks’ tricks <!– <!– <!– Christian Preisigke, Krefeld specialist lawyer for banking and capital markets law, represents more than 100 clients in proceedings against Sparkasse Krefeld and other financial institutions. Photo: Lammertz, Thomas (lamm) Krefeld The Federal Financial […]

Promises of high returns are usually a fake

December 10, 2020 at 4:50 pm Caution trap : Promises of high returns are usually a fake <!– <!– <!– Investors are often promised high returns from supposed trading platforms. This amount increases very quickly with the help of personal advisors who take care of the investors intensively over the phone. Photo: Rolf Vennenbernd / […]

Jan Marsalek and the coup of the century

Jan Marsalek We are looking for the ex-COO of Wirecard. (Photo: Wirecard) Munich The fraud at the insolvent payment service provider Wirecard is apparently even bigger than expected. The previous assumption was that 1.9 billion euros were missing from the balance sheet. Research now shows: The existence of a further 800 million euros in trust […]

“I am sure that we will continue to be at the top”

Rainer M. Jacobus: The head of Ideal Versicherung sees himself at the top of the current interest rate for the insured in 2021 as well. (Photo: Ideal / Sven Darmer) Frankfurt In classic endowment insurance, the insurer not only grants guaranteed interest on the premiums paid according to costs. Instead, it distributes additional income proportionally […]