BaFin Puts Out Fresh Call to Whistleblowers in Pursuit of Disclosures

Individuals are being urged to come forth and provide disclosures to BaFin in a bid to help aid in investigations.

The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht), an independent German regulatory institution, has undergone a new whistleblower program to help curb illicit behavior and bring to light any breaches of supervisory law.

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The deployment of whistleblower programs is nothing new to the regulatory space, though relying on such measures has proven to be quite successful in bringing criminals to justice or aiding in investigations.

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Other regulators such as the United States’ Securities and Exchange Commission (SEC), and CFTC have supported whistleblowing, doling out awards in the millions over the past few years with information at a high premium.

Consequently, BaFin is offering the same opportunities for individuals, who will be given absolute anonymity for their involvement of any investigations or breaches of supervisory law. Individuals are encouraged to provide any information and disclose any knowledge of illegal activity.

The initiative is important not only for BaFin, but for the Germany regulatory space in general, as historical incentives have proven to be a reliable medium for procuring information with regard to relevant cases.

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