Investment Firm Allegedly Violated Banking Laws In Germany
An Augsburg-based company, Wirtschaftsmanufaktur Katalano und Kollegen, allegedly violated the German Banking Act (KWG) by conducting deposit business without required authorization from the Federal Financial Supervisory Authority (BaFin).
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Sources · 7 independent
BR24
“Für solche Einlagegeschäfte hätte das Augsburger Unternehmen eigentlich eine Erlaubnis der Bankenaufsicht BAFIN benötigt, meint Stefan Greger. Der Fachanwalt für Bank- und Kapitalmarktrecht verweist auf das KWG das Kreditwesen-Gesetz.”
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