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  1. Legal news
    02 July 2019
    German implementation of AMLD5: Performance of anti-money laundering due diligence by third parties under the draft bill for the implementation of Directive (EU) 2018/843
    www.twobirds.com/en/news/articles/2019/germany/german-implementation-of-amld5

    The German Ministry of Finance published a proposal to implement Directive (EU) 2018/843 (fifth Anti-Money Laundering Directive) into German national law. The draft proposes changes when using trusted third parties.

  2. Legal news
    17 May 2019
    Liberation of Crowdfunding in germany
    www.twobirds.com/en/news/articles/2019/germany/liberation-of-crowdfunding-in-germany

    German Legislator reforms rules for crowdfunding allowing for broader exemption, transparency and investor protection

  3. Legal news
    07 May 2019
    PSD2/ZAG: Strong Customer Authentication and Direct Debiting Schemes
    www.twobirds.com/en/news/articles/2019/germany/psd2-zag-strong-customer-authentication-and-direct-debiting-schemes

    German regulator BaFin limits the application of strong customer authentication for direct debiting schemes.

  4. Legal news
    16 August 2019
    PSD2: Germany’s BaFin pulls emergency brakes on account interfaces. Fintechs stand to benefit, banks must step up their game.
    www.twobirds.com/en/news/articles/2019/global/psd2-germanys-bafin-pulls-emergency-brakes-on-account-interfaces

    Germany’s Federal Financial Supervisory Authority (BaFin) concludes in a circular that bank’s new account interfaces do not conform to PSD2 requirements. They may thus not switch off access through existing interfaces.

  5. Legal news
    24 March 2021
    Implications following the Wirecard case – and Greensill?
    www.twobirds.com/en/news/articles/2021/germany/implications-following-the-wirecard-case-and-greensill

    The draft bill of the Financial Market Integrity Strengthening Act (Finanzmarktintegritätsstärkungsgesetz – FISG) and the seven-points plan to reform Germany’s Federal Financial Supervisory Authority (Bundesanstalt für ...

  6. Legal news
    28 October 2021
    ECSPR - Current crowdfunding models under the Crowdfunding Regulation
    www.twobirds.com/en/news/articles/2021/germany/ecspr-current-crowdfunding-models-under-the-crowdfunding-regulation

    On 10 November 2021, the Crowdfunding Service Provider Regulation ((EU) 2020/1503 - European Crowdfunding Service Provider Regulation - "ECSPR") will enter into force.

  7. Legal news
    21 August 2019
    PSD2: BaFin announces postponing SCA-rules for online credit card payments in Germany
    www.twobirds.com/en/news/articles/2019/germany/psd2-bafin-announces-postponing-sca-rules-for-online-credit-card-payments-in-germany

    The requirement of Strong Customer Authentication (SCA) for payment service providers was scheduled for 14 September 2019. Germany’s Federal Financial Supervisory Authority (BaFin), however, just announced it will not ...

  8. Legal news
    26 August 2020
    eWpG: German Ministries publish draft for a new Electronic Securities Act
    www.twobirds.com/en/news/articles/2020/germany/german-ministries-publish-draft-for-a-new-electronic-securities-act

    The German Federal Ministry for Justice and Consumer Protection and German Federal Ministry of Finance recently published their draft for the proposed “act to introduce electronic securities”.

  9. Legal news
    05 June 2019
    ICO: Legal Classification of Tokens: Part 5 - Hybrid Forms
    www.twobirds.com/en/news/articles/2019/global/ico-legal-classification-of-tokens-part-5

    Part 5/5 – Hybrid Forms: A token may have features of security token, currency token and/or utility token. These hybrid forms require a case by case assessment of applicable regulation.