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Börse Frankfurt

Federal Financial Supervisory Authority (BaFin)

Rules and Regulations


The setting up of the Federal Financial Supervisory Authority (BaFin) in April 2002 was a major component in the reform process of Germany as a financial center. BaFin stands for the goal of creating an integrated, neutral and strong capital market-oriented supervisory authority.

BaFin secures the functioning of the markets for securities and derivatives. This leads to the objectives of protecting investors, preserving market transparency and ensuring market integrity.

In order to reach these goals, the additional tasks of BaFin include:

  • prosecution of and efforts to prevent the exploitation of information leads
  • supervision of the obligation under § 15 WpHG (German Securities Trading Act) to notify all transactions in securities and derivatives conducted by any member of the executive board or supervisory board of the respective company (directors' dealings)
  • supervision of ad-hoc disclosure of listed companies
  • supervision of announcements following changes in respect to voting rights of companies listed on the Official Market
  • supervision of the rules of conduct and organizational duties of investment services providers
  • depository for securities offering prospectuses
  • control of securities purchasing offers, takeover offers and mandatory offers under WpÜG (Securities Acquisition and Takeover Act).

If investors consider themselves to have been badly advised and have lost money because of such advice or if an offer appears doubtful to them, they can contact BAFin.

In the event of well-founded complaints, BaFin contacts the institute concerned and investigates the matter. It should, however, be kept in mind that BaFin has no legal basis to claim back invested funds.

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