Kai Grandpierre
Kai Grandpierre focuses on corporate law. Kai studied law at the University of Münster, the University of Political Sciences and Law, Beijing, PR China and at Texas Tech School of Law in the United States. Prior to joining McDermott, he gained valuable experience as a trainee lawyer and research assistant at an international law firm in Cologne in the areas of antitrust and corporate law.
ZAG-MaRisk
Von Kai Grandpierre am Jun 17, 2024
Gepostet In Financial Services, Payment Services
On May 27, 2024, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – “BaFin“) published the final version of the Circular on the Minimum Requirements for Risk Management of Payment Institutions (“ZAG-MaRisk“). As a result, payment institutions are subject to payment specific minimum requirements for the first time and may not rely on the Minimum Requirements for Risk Management for Credit Institutions (“MaRisk (BA)“) anymore. The ZAG-MaRisk specifies the requirements for the proper business organization of institutions on the basis of Section 27 (1) of the German Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz – “ZAG“). In addition, it includes specific...
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Amendment of the Owner Control Regulation
Von Kai Grandpierre am Jan 2, 2023
Gepostet In Banking Law, Financial Services
On December 28, 2022, the amended “Regulation on Notifications in Accordance with Section 2c of the German Banking Act (Kreditwesengesetz – KWG) and Section 104 of the German Insurance Supervision Act (Versicherungsaufsichtsgesetz – VAG)”, the Owner Control Regulation (Inhaberkontrollverordnung – InhKontrollV, also referred to as Holder Control Regulation by BaFin), became effective. The amendment expands the scope of the documents and declarations to be submitted, but at the same time contains partial relief for the party subject to the notification requirement. Consideration of the changes to the KWG and the VAG The amendments to the InhKontrollV take into account the...
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Expiration of national rules regulating crowdfunding
Von Kai Grandpierre am Aug 30, 2022
Gepostet In Other
On November 10, 2022, the two-year transitional period in the European Crowdfunding Regulation (Regulation (EU) 2020/1503 – “ECSP Regulation“) will expire. A authorization under national law (e.g. under the German Banking Act (KWG) or the German Trade Regulation Act (GewO)) will no longer be sufficient from this date. The new uniform European authorization under the ECSP Regulation will be mandatory. The same applies even if there is no cross-border reference. The ECSP Regulation serves to foster cross-border crowdfunding services and creates a uniform European framework for this purpose. Within its scope of application, it enables the activity of a swarm...
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