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WpIG-EN

Securities Institutions Act
WpIG-EN · official text on eucite.com in-house translation

🇩🇪 Auf Deutsch lesen (original text)

This English text is a careful, terminology-researched translation prepared by eucite.com — not an official government translation. The German original linked above is the legally authoritative text.

Sections

Part 1 General Provisions

Chapter 1 Scope of Application and Definitions

• Section 1 — Scope of application
• Section 2 — Definitions
• Section 2a — Unreliability of sanctioned persons
• Section 3 — Exceptions
• Section 4 — Statutory supervisory framework for large securities institutions

Chapter 2 Tasks and Basic Powers of the Bundesanstalt

• Section 5 — Tasks and general powers of the Bundesanstalt
• Section 5a — Special powers under Regulation (EU) 2022/2554
• Section 6 — Immediate enforceability
• Section 7 — Cross-border information and examinations
• Section 8 — Power to extend Regulation (EU) No 575/2013 to certain securities institutions

Chapter 3 Cooperation of the Bundesanstalt with Other Bodies

• Section 9 — Cooperation with the Deutsche Bundesbank
• Section 10 — Cooperation within the European System of Financial Supervision
• Section 11 — Cooperation with competent authorities and bodies
• Section 12 — Duty of confidentiality

Chapter 4 Whistleblower System and Record-Keeping Obligation at Securities Institutions; Form of Documents to Be Submitted

• Section 13 — Whistleblower system and record-keeping obligation
• Section 14 — Communication with the Bundesanstalt and the Deutsche Bundesbank; authorisation to issue statutory instruments

Part 2 Licence; Managers; Management or Supervisory Body; Holders of Significant Holdings

Chapter 1 Licence

• Section 15 — Licence for the provision of investment services and ancillary investment services
• Section 16 — Licensing procedure and publication
• Section 17 — Initial capital
• Section 18 — Refusal of the licence
• Section 19 — Lapse and revocation of the licence

Chapter 2 Managers and Management or Supervisory Body

• Section 20 — Managers
• Section 21 — Management or supervisory body
• Section 22 — Measures against managers and members of the management or supervisory body
• Section 23 — Prohibitions on activity for natural persons who are not managers

Chapter 3 Holders of Significant Holdings

• Section 24 — Notification
• Section 25 — Assessment period
• Section 26 — Assessment criteria and prohibition
• Section 27 — Prohibition on the exercise of voting rights and right to give instructions

Chapter 4 Tied Agents, Protection of Designation and Register Provisions

• Section 28 — Obligations of securities institutions on the appointment of tied agents
• Section 29 — Protection of designation
• Section 30 — Register provisions

Part 3 Information about the Competent Compensation Schemes

• Section 31 — Information about the compensation scheme
• Section 32 — Informing customers of withdrawal from a compensation scheme

Part 4 Arrangements for the Prevention of Money Laundering and Terrorist Financing

• Section 33 — Internal safeguards
• Section 34 — Time of identity verification
• Section 35 — Enhanced due diligence obligations
• Section 36 — Anti-money laundering duties of investment holding companies
• Section 37 — Prohibited transactions

Part 5 Supervision of Securities Institutions; Prudential Supervision

Chapter 1 Foundations of Prudential Supervision

• Section 38 — Scope of application
• Section 39 — Internal capital and liquid assets
• Section 40 — Outsourcing of activities and processes; authorisation to issue statutory instruments
• Section 41 — Internal governance
• Section 42 — Country-by-country reporting
• Section 43 — Tasks of managers in the context of risk management
• Section 44 — Function of the management or supervisory body in risk management; establishment of committees
• Section 45 — Risk management
• Section 46 — Remuneration system; authorisation to issue statutory instruments

Chapter 2 Supervisory Review and Evaluation Process

• Section 47 — Supervisory review and evaluation
• Section 48 — Ongoing review of the permission to use internal models

Chapter 3 Special Powers of the Bundesanstalt in the Ongoing Supervision of Securities Institutions

• Section 49 — Special supervisory powers
• Section 50 — Additional own funds requirements
• Section 51 — Requirements as to additional own funds
• Section 52 — Special liquidity requirements
• Section 53 — Cooperation with resolution authorities
• Section 54 — Publication obligations
• Section 55 — Duty to inform the European Banking Authority

Subchapter 1 Supervision of Securities Institution Groups on a Consolidated Basis and Monitoring of Compliance with the Group Capital Requirements

• Section 56 — Competence of the Bundesanstalt for supervision on a consolidated basis and for monitoring compliance with the group capital test
• Section 57 — Duties to inform in crisis situations
• Section 58 — Supervisory colleges
• Section 59 — Cooperation of the Bundesanstalt with other competent authorities
• Section 60 — Verification of information about undertakings in other state parties

Subchapter 2 Investment Holding Companies, Mixed Financial Holding Companies and Mixed Undertakings

• Section 61 — Inclusion of holding companies in monitoring compliance with the group capital test
• Section 62 — Qualification of managers and members of the management or supervisory body of an investment holding company or a mixed financial holding company; prohibition on activity; warning
• Section 63 — Mixed-activity holding companies

Chapter 5 Notification Obligations; Securities Institutions with a Parent Undertaking in a Third Country

• Section 64 — Notification obligations for all securities institutions
• Section 65 — Notification obligations for large securities institutions
• Section 66 — Notification obligations for small and medium-sized securities institutions
• Section 67 — Notification obligations of managers, investment holding companies and mixed financial holding companies
• Section 68 — Power to impose case-specific notification obligations; authorisation to issue statutory instruments
• Section 69 — Assessment of supervision in a third country and other supervisory techniques

Chapter 6 Special Provisions on Qualified Crypto Custody

• Section 69a — Segregation of assets

Part 6 European Passport, Branches and Cross-Border Provision of Services

Chapter 1 European Passport, Branches and Cross-Border Provision of Services

• Section 70 — Establishment of a branch by domestic securities institutions
• Section 71 — Cross-border provision of services by domestic securities institutions
• Section 72 — Change in the notified circumstances

Chapter 2 Establishment of a Branch and Cross-Border Provision of Services by Securities Institutions Having Their Seat in Another State Party

• Section 73 — Establishment of a branch by securities institutions having their seat in another state party
• Section 74 — Cross-border provision of services
• Section 75 — Power to inform and take measures

Part 7 Submission of Accounting Documents, Appointment of Auditors and Audit

• Section 76 — Submission of accounting documents
• Section 77 — Appointment of auditor and notification
• Section 78 — Special duties of the auditor; authorisation to issue statutory instruments

Part 7a DLT Pilot Regime under Regulation (EU) 2022/858

• Section 78a — Competence
• Section 78b — Exceptions from the licence requirement under section 15
• Section 78c — Documents and applications under Regulation (EU) 2022/858

Part 7b Authorisation of Data Reporting Services Providers

• Section 78d — Authorisation procedure; exceptions
• Section 78e — Refusal of authorisation; withdrawal of authorisation
• Section 78f — Informing ESMA

Part 8 Measures in the Event of Danger

• Section 79 — Measures in the event of danger
• Section 80 — Special commissioner
• Section 81 — Winding-up of current business; exceptions; prohibition of compulsory enforcement
• Section 81a — Attribution of cryptographic instruments held in custody; costs of segregation

Part 9 Criminal and Regulatory Fine Provisions, Public Announcement and Communications in Criminal Matters

• Section 82 — Criminal provisions
• Section 83 — Provisions on fines
• Section 84 — Public announcement of administrative sanctions and measures
• Section 84a — Publication of measures and sanctions for breaches of Regulation (EU) 2022/2554
• Section 85 — Involvement of the Bundesanstalt and communications in criminal matters

Part 10 Transitional Provisions

• Section 86 — Transitional provisions for existing securities institutions
• Section 87 — Transitional provision concerning the Financial Market Digitalisation Act