BaFin publishes final WpI MaRisk for small and medium-sized investment firms

On 24 August 2026, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) published Circular 09/2026 (WA), setting out the Minimum Requirements for the Risk Management of Investment Firms (WpI MaRisk). For the first time, BaFin has adopted a targeted regulatory approach specifically designed for smaller and medium-sized investment firms,…