Investment banks and product manufacturers operating in Germany will be required to take 'suitable steps’ to ensure the segregation of accounting duties at institutions with significant trading ‘given the extensive discretionary scope in valuing certain trades such as structured products’
The German regulator - Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), has updated the Minimum Requirements for Risk Management (Mindestanforderungen an das Risikomanagement - MaRisk ) to the new European and international provisions with a number of changes relating to data aggregation, risk reporting, risk culture and outsourcing which will have to be met by the structured products market. This includes concentrations with regard to ‘borrowers, products or underlyings of s
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