Renate Prinz
Renate Prinz focusses her practice on corporate law, national and international mergers, and acquisitions (M&A) and corporate reorganizations. She also advises at the interface with financial regulatory aspects, especially in connection with corporate transactions and/or licensing issues. Renate is experienced in advising national and foreign investment companies, credit, and financial services institutions on all aspects of German and European financial supervisory law. She furthermore has extensive experience in acting for clients in the industrial, retail, and public sectors. Furthermore, Renate publishes in corporate and financial supervisory law on a regular basis.
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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Compliance in focus: duties, challenges and competencies of the Management Board and Supervisory Board
Von Renate Prinz am Mar 15, 2024
Gepostet In Compliance, ESG
The webinar with our partner Renate Prinz focuses on the latest compliance challenges for executives and supervisory boards. It delves into essential topics that are highly relevant today, both for C-level executives and non-executives on governing bodies. We begin with a thorough introduction to current compliance requirements and the organization of compliance within the company. Explore key themes, including whistleblowing, anti-money laundering, the Supply Chain Due Diligence Act, and ESG. A central focus of the Passion for People webinar is understanding the specific responsibilities that board members and supervisory boards bear in this context, as well as effective ways to...
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Renate Prinz in FinExtra: “Non-Performing Loans are now subject to regulation: What it means.”
Von Renate Prinz am Mar 5, 2024
Gepostet In NPL
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Licence requirement for credit service providers – services for non-performing loans now require a licence
Von Renate Prinz am Feb 28, 2024
Gepostet In Banking Law, Financial Services, NPL
When the Secondary Credit Market Act (Kreditzweitmarktgesetz) came into force on 30 December 2023, services relating to non-performing loans, i.e. loans that are no longer being settled or are at risk of default, will require a licence. Companies that already provide credit services today had to register with BaFin in February and state that they will continue to provide these services and now have until April to submit a licence application. A transitional regulation will then apply to them, under which the services can initially still be provided without a licence. In addition, the sale of NPLs by credit institutions...
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Are You Ready for MiCAR? – Webinar on the Introduction to the new EU Crypto Regulation
Von Renate Prinz and Annabelle Rau am Feb 9, 2024
Gepostet In Crypto Regulation, MiCAR
We had the pleasure to host our webinar on the new regulation of crypto-assets in the EU (Markets in Crypto-Assets Regulation (MiCAR)), with a focus on the scope of MiCAR, licensing requirements and procedures, and obligations for crypto-asset service providers in the EU. Our experts, specializing in Financial Regulatory Law with a focus on the current crypto regulation, engaged in discussions regarding the upcoming changes due to MiCAR in 2024. The seminar was targeted at all those who were (or aspired to be) involved in the crypto scene or provided services in this domain, seeking insights into compliance with the...
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What To Expect From The EU’s New PSD3, PSR AND FIDA Regulations
Von Renate Prinz and Annabelle Rau am Nov 8, 2023
Gepostet In EU
The Payment Services Directive II (PSD2) has changed the payment services industry in Europe. However, many details remain open and impractical and the implementation of the directive and the administrative practices of local financial supervisory authorities differ greatly in some cases. A reform is now pending with PSD3, which aims for a higher degree of harmonization and will bring with it many new requirements for payment service providers.What are the most important changes and challenges facing the industry? How can payment service providers prepare? Read the article by Renate Prinz and Annabelle Rau to find out how the planned PSD...
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McDermott is nominated in the Financial Times Innovative Lawyers Awards in Europe
Von Renate Prinz am Jul 29, 2023
Gepostet In ESG
We are very pleased to announce that our firm has been nominated in the categories Innovation in Digital Solutions and Innovative Lawyers in Impact and ESG in the Financial Times Innovative Lawyers Awards Europe. The German legal tech team, led by Dr Thomas Hauss, was nominated for the Check of Regulatory Authorizations (CORA) tool in the Innovation in Digital Solutions category. The tool supports users in navigating the highly complex landscape of German and European financial supervisory law. Learn more about CORA here. Click here for the shortlist. Our CORA team: Dr. Thomas Hauss, Renate Prinz, Annabelle Rau, Dr Philip...
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European Supervisory Authorities (ESAs) put forward common understanding of greenwashing and warn on risks
Von Renate Prinz am Jul 4, 2023
Gepostet In ESG, Sustainability, Sustainability Risks
The European Supervisory Authorities published their Progress Reports on Greenwashing on June 1st. The reports includes a common high-level understanding of Greenwashing and thus helps to provide market participants and regulators with a shared reference point in dealing with this phenomenon. In the report, ESMA assesses which areas of the sustainable investment value chain (SIVC) are more exposed to the risk of greenwashing. This assessment is meant to help market participants in preventing and mitigating greenwashing, and to support ESMA and NCAs in prioritising supervisory actions and regulatory intervention. The findings show that misleading claims may relate to all key...
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Stability through regulation
Von Renate Prinz am May 15, 2023
Gepostet In Banking Law, Crypto Regulation, MiCAR
The financial industry is once again facing uncertainty and turbulence, caused in particular by the demise of some banks and problems in the crypto scene. In view of the current regulatory density, the question arises whether this is sufficient to ensure the stability of the financial industry and whether it can actually help to create market security and trust. Renate Prinz classifies the current developments in the Börsen-Zeitung. Click here to read the full article in German.
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The year is drawing to a close – what’s new for 2023?
Von Renate Prinz am Dec 19, 2022
Gepostet In Banking Law, Financial Services, Funds
As the year draws to a close, it is worth taking a look at new regulations at the start of the year: As of January 1, the new Regulatory Technical Standards (RTS) on the EU Disclosure Regulation will apply to financial market participants and financial advisors. With the Disclosure Regulation, which already came into force in March 2021, respective companies must prove how sustainable their products are, the extent to which ESG criteria, i.e. ecological and social standards and good corporate governance, are observed and pursued and which strategies are applied here. The Disclosure and Taxonomy Regulation applies to financial...
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