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    Germany reforms Real Estate Transfer Tax Rules

    The German legislator passed a reform of the Real Estate Transfer Tax Act which particularly tightens rules for share deals with effect from 1 July 2021. We take a closer look at the new rules and provide information on transitional rules.

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    | Tags: Banking & Finance


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    L-Bank Subject to ECB Supervision

    Landeskreditbank Baden-Württemberg ("L-Bank") is subject to direct supervision by the European Central Bank ("ECB"). The European Court of Justice ("ECJ") ruled that the ECB had correctly assessed the L-Bank as an important institution and was therefore subject to direct supervision by the ECB (ECJ, judgment of 8 May 2019 - C-450/17 P). However, the imminent amendment of the Capital Requirements Directive is likely end this period of direct ECB-regulation shortly.

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    | Tags: Banking & Finance


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    Right to Inspect BaFin's Files

    According to Sec. 1 of the Freedom of Information Act (Informationsfreiheitsgesetz "IFG"), everyone has the right to access official information in accordance with the further requirements of the Act. In principle, the files held by an the German Federal Financial Supervisory Authority are also covered by the right to information. Until a recent court ruling this right to information was, however, severely curtailed.

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    | Tags: Banking & Finance


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    Do Utility Tokens Qualify as Securities?

    Classification of utility tokens as securities has massive implications for all stakeholders in the crypto-business. Yet there is no clear answer to the question whether utility tokens are in fact securities. With this article we will examine the decisive factors that determine securities under German law.

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    | Tags: Banking & Finance