The Regulatory Landscape
Even before the financial crisis of 2008, financial regulation has been characterised by constant change, diversity and complexity. The international interconnectedness of financial markets, institutions and states is shaped by efforts to ensure a level playing field and standardised conduct rules. As a result, the density of regulation continues to increase – starting at the global level through bodies such as the Basel Committee on Banking Supervision and the G20, continuing at EU level through the European Commission and the European Supervisory Authorities (EBA, ESMA, EIOPA and AMLA), and extending to national regulation by the German legislature and BaFin.
Financial institutions continuously face new regulatory developments, including MiCAR, DORA and CSRD, as well as refinements to existing laws. At the same time, there are significant interdependencies between the various regulatory areas – banking, payments, securities and insurance supervision.
Your challenges – our solutions
We keep all these developments firmly in view. Our guiding principle is to advise clients on all regulatory matters at the highest level. Successful advice in today’s environment requires experts who understand the entirety of the regulatory framework, follow its evolution closely and plan strategically beyond the immediate case. With this approach, our partners have been advising on all aspects of financial regulation for more than two decades.
In doing so, we always take account of adjacent areas such as corporate and contract law, which frequently need to be considered alongside regulatory issues. What distinguishes us is our ability to solve urgent and complex problems while keeping the long-term and strategic implications of regulatory matters in mind.
Innovation
In addition to traditional regulatory matters, we advise both established institutions and newer market participants – such as fintechs, neobanks and neobrokers – on the legal treatment of technological innovation.
Our support covers both compliance with regulatory requirements and the legal structuring of new business models, including the issuance of and provision of investment services relating to crypto-assets.
Advice with Academic Precision
Our approach to financial regulatory advice is underpinned by a strong academic foundation that materially enhances our practical work. Through regular contributions to leading commentaries and handbooks we help shape the legal discourse and provide impulses for the development of financial regulation.
We also lecture, train management and supervisory boards of major financial institutions, and are active in legal academia. In this way, we combine academic excellence with practical, top-tier advisory services.
Focus Areas
In financial regulatory matters, we support clients throughout the entire lifecycle – from licence applications to commencing business operations, ongoing compliance relating to organisational requirements, management qualifications, capital and liquidity, through to resolution. Throughout all these phases, we advise and represent clients in their interactions with national and European supervisory authorities. Examples include:
Banks
- Licensing requirements
- Cross-border banking services
- Bank resolution
- Capital requirements
- Remuneration structures and requirements
Insurance undertakings
- Licensing requirements
Investment firms
- Custody business
- Asset management
- Investment services
Payment service providers / e-money institutions
- Licensing requirements
- Cross-border services
Cross-sector advisory
- Anti-money laundering
- Ownership control proceedings
- DORA, in particular IT outsourcing
- Digitalisation of financial market participants, incl. crypto-assets, fintech regulation and MiCAR
- Regulatory aspects of M&A transactions
- Internal organisation (MaRisk and MaComp)
- Representation before the ECB and BaFin in regulatory proceedings and measures relating to management board members
Other areas
- Credit rating agencies
Publications in Financial Regulatory Law
Key works in financial regulatory law to which we contribute as editors or authors include:
- Schäfer/Omlor/Mimberg, Zahlungsdiensteaufsichtsgesetz, 2nd ed. 2025
- Schäfer/Sethe/Lang, Handbuch der Vermögensverwaltung, 3rd ed. 2022
- Fischer/Schäfer/Schulte-Mattler/Schulte-Mattler, KWG, 7th ed. 2026 (im Erscheinen)
- Kümpel/Mülbert/Früh/Seyfried, Bankrecht und Kapitalmarktrecht, 7th ed. 2025
- Assmann/Schütze/Buck-Heeb, Handbuch des Kapitalanlagerechts, 6th ed. 2024
- Seibt/Buck-Heeb/Harnos, BeckOK Wertpapierhandelsrecht, 13th ed. 2025
- Ellenberger/Bunte, Bankrechts-Handbuch, 6th ed. 2022
- Assmann/Schneider/Mülbert, Wertpapierhandelsrecht, 8th ed. 2023