Frederic Peine
Dr. Frederic Peine’s practice focuses on corporate law and M&A as well as financial services and fund regulatory law. His practice includes general corporate law advice to listed companies, national and international M&A transactions and joint ventures as well as the restructuring of companies in the national and international environment. Frederic also advises financial service providers and fund intermediaries on regulatory issues, in particular with corporate law implications.
BaFin Declines to Act Against PFOFs (For Now)
Von Renate Prinz and Frederic Peine am Apr 18, 2024
Gepostet In Banking Law
The Federal Financial Supervisory Authority (BaFin) will, for now, not take action against payments by third parties to investment firms (Wertpapierfirmen) for forwarding client orders (known as payment for order flow, or PFOF). In an announcement dated 22 March 2024 BaFin stated that, should investment firms violate the PFOF prohibition with domestic clients, it will refrain from taking measures or imposing sanctions until the completion of the national legislative process in Germany. The PFOF prohibition, as contained in the amended version of the Regulation (EU) No. 600/2014 of the European Parliament and of the Council (MiFIR), stipulates that investment firms...
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Bitcoin Halving Is Just Around the Corner
Von Frederic Peine am Apr 18, 2024
Gepostet In Crypto Regulation
After the approval of cryptocurrency exchange-traded funds (ETFs) in the United States, another fundamental event for the crypto industry is on the horizon: the expected bitcoin halving in mid-April 2024. The approval of so-called bitcoin spot ETFs by the US Securities and Exchange Commission (SEC) in early January 2024 led to significant cash inflows into the crypto market, specifically targeting the market for bitcoin spot ETFs. Between March 4 and March 13, 2024, approximately US$3.8 billion was invested into the newly approved bitcoin ETFs, resulting in bitcoin reaching a new record high of around US$ 73,750. Now, the industry eagerly...
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SEC approval for crypto ETF
Von Frederic Peine am Jan 11, 2024
Gepostet In Crypto Regulation
Yesterday, on January 10, 2024, the US Securities and Exchange Commission (“SEC”) made the long-awaited decision by the crypto scene to allow the listing and distribution of exchange-traded funds (“ETFs”) that track the price of the cryptocurrency Bitcoin, so-called Bitcoin spot ETFs. Specifically, 11 of these Bitcoin spot ETFs were approved by SEC, including those from major market players such as BlackRock, Ark Investments and Fidelity. The approval decision was preceded by a false report shortly before the SEC decision, which once again led to considerable market distortions. The approval took a year-long coordination process between the parties involved and...
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