BaFin expert panel addresses interpretation issues regarding the 6th MaRisk amendment and the FISG
With the publication of the drafts for the Financial Market Integrity Strengthening Act (FISG), a jolt went through the financial industry; the consequences of the Wirecard scandal had caught up with uninvolved institutions. Among various other issues, the law also sharpens regulation of outsourcings across the industry. At its meeting in October 2021, the MaRisk expert committee addressed various issues relating to the interpretation of the FISG and the 6th MaRisk amendment – which, among other topics, also entailed an increase in the context of outsourcing.
In addition, the expert committee dealt with the notification requirement in the outsourcing context, the planned adjustments to the Minimum Requirements for Risk Management (MaRisk) with regard to business model analysis, and information on the regulatory capital target ratio for covering risks in stress situations.
The minutes of the expert panel can be found here on the website of the German Federal Financial Supervisory Authority (BaFin).
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