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BaFin Releases Revisions to BT 1.3.4 of MaComp (Outsourcing Compliance Responsibilities)

August 8, 2014

Summary: On 7 August 2014 BaFin released a revision of its Circular 4/2010 Minimum Requirements for the Compliance Function and Other Operational, Organizational and Transparency Obligations Under §§ 31 et seq. of the WpHG (Law on Securities Trading) (MaComp). The revisions are based on the experience of BaFin in carrying out examinations relating to the outsourcing of the compliance function under the WpHG and provide organizational guidance to the institutions outsourcing that function. In particular, the revision should assist affected institutions in avoiding the risks of outsourcings undertaken solely for economic reasons. 

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George M. Williams jr
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Ingrid Kalisch
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Download: Compliance Alert (pdf 217326 bytes)