
BaFin sets dedicated risk-management rules for small and midsized investment firms
BaFin has issued a dedicated risk-management rulebook for small and midsized investment firms in Germany, replacing the bank-focused MaRisk framework. The new WpI MaRisk circular, effective January 1, 2027, targets firms with operating models that differ from credit institutions and introduces detailed requirements for risk management, governance, and outsourcing.









































