The BaFin

In Germany, across the sector, the Federal Financial Supervisory Authority (BaFin), which has offices in Bonn and Frankfurt am Main, supervises the whole of the financial market, in particular, the trade in securities, and banks, financial services institutions and insurance companies. At the present time, within this remit, it deals with about 2,700 banks, 800 financial services institutions and more than 700 insurance companies as well as all the public limited companies listed on the stock market. The BaFin also prosecutes where illicit banking business and the provision of illicit financial services are found, such as fall under business offence law.