FIN LAW BLOG
Getting Ready for DORA (Part V) – Contract Negotiations After DORA Comes Into Force – Who Will Have the Upper Hand?
The DORA significantly restricts the contractual freedom of financial companies and ICT third-party service providers by imposing a number of mandatory requirements on the drafting of contracts. This could put medium-sized financial companies in particular in a stronger negotiating position, while even large ICT providers will be obliged to implement the new requirements.
Getting Ready for DORA (Part IV) – Are Agreements on Audit Rights also Mandatory Outside of Outsourcing Agreements?
DORA obliges financial institutions to manage the ICT third-party risk through appropriate contract design. To this end, DORA specifies minimum content that is intended to strengthen the position of the financial institution and increase security. But what consequences does this have for future and existing contracts?
Market Abuse and Insider Trading in Crypto Assets – Who Will be Affected By the New MiCAR Rules?
In a few months, all MiCAR provisions will be legally effective. This also includes the new rules on the prevention and prohibition of market abuse and insider trading. But which market participants must comply with the new strict obligations?
Lost in Translation Copy and Paste – The Problem with Translated Contracts
The drafting of contracts for software products in accordance with German law is often complex, which leads many providers to use sample contracts from the Internet or translated contracts from other jurisdictions. However, this approach harbors risks, as such contracts are often largely ineffective under German law or contain provisions that can lead to undesirable results in the event of a dispute.
Getting Ready for DORA (Part III) – How Do You Test the Digital Operational Resilience?
DORA requires the financial companies affected to carry out regular tests of their digital operational resilience. But what do these tests actually involve and do all financial firms have to carry out the same tests?
Getting Ready for DORA (Part II) – Locational Advantage for Germany?
BaFin already supervises a large number of financial companies and imposes a number of requirements on the IT used. DORA is now about to come into force. In future, the use of information and communication technology (ICT) will be governed by the requirements of DORA. But to what extent does DORA differ in its requirements from those already demanded by BaFin?
Asset Investment Under MiCAR – Is a Securities Prospectus or Crypto Whitepaper Needed for the Public Offering?
Asset investments under the German Asset Investment Act are not considered financial instruments under MiFID2 because they are based on national regulation. Can they therefore be subject to both German regulation as an asset investment and MiCAR regulation and what are the implications of this?
Getting Ready for DORA (Part I) –High Impact on Small Companies in the Financial Sector?
DORA imposes a number of new obligations on financial companies. This can be particularly burdensome for small companies. But who actually falls within the scope of the regulation and are the rules the same for everyone affected?
WIB or BIB – When Must Which Documentation Be Provided?
In principle, a WIB can be prepared instead of a securities prospectus for securities issues with smaller volumes in Germany. In certain cases, however, a BIB must be prepared instead of the WIB. What are the differences between the various information sheets and what advantages are associated with each of them?