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The future German Capital Markets Criminal Law – tightened regulations and prosecution options

25 May 2016

On 13 May 2016, the German Federal Council (Bundesrat) approved the First Financial Markets Amendment Act (Erstes Finanzmarktnovellierungsgesetz, "1. FiMaNoG"). One of the key aspects of the act is to tighten the administrative and criminal sanctions against insider dealing and market manipulation. Furthermore, it extends the duties and powers of the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, "BaFin").

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