What is special about number 10

Section 10 - Securities Trading Act (WpHG)

revised by B. v. 09.09.1998 Federal Law Gazette I p. 2708; last amended by Article 7 G. v. May 12, 2021 Federal Law Gazette I p. 990
Valid from 01/01/1995; FNA: 4110-4 Exchange regulations
80 earlier versions | Printed matter / draft / justification | is cited in 652 regulations

Section 2 Federal Financial Supervisory Authority

§ 10 Special powers according to Regulation (EU) No. 1286/2014 and Regulation (EU) 2016/1011


§ 10 has 2 earlier versions and is quoted in 12 regulations


(1) 1The BaFin monitors compliance with the prohibitions and requirements of Regulation (EU) No. 1286/2014 as well as the delegated acts and implementing acts of the European Commission issued on its basis. 2In relation to an investment services company that advises on a PRIIP, sells it or is a manufacturer of PRIIPs, it can issue orders that are suitable and necessary to enforce the prohibitions and requirements mentioned in sentence 1. 3In particular, it can


1.
temporarily or permanently prohibit the marketing, distribution or sale of the PRIIP if there is a breach of Article 5 (1), Articles 6, 7 and 8 (1) to (3), Articles 9, 10 (1), Article 13 (1), 3 and 4 or Articles 14 or 19 of Regulation (EU) No. 1286/2014 are present,

2.
Prohibit the provision of a key information sheet that does not meet the requirements of Articles 6 to 8 or 10 of Regulation (EU) No. 1286/2014,

3.
oblige the manufacturer of a PRIIP to publish a new version of the key information sheet if the published version does not meet the requirements of Articles 6 to 8 or 10 of Regulation (EU) No. 1286/2014, and

4.
in the event of a breach of one of the provisions mentioned in number 1, publish a warning on its website, naming the responsible investment services company and the type of breach; Section 125 (3) and (5) apply accordingly.

4The powers mentioned in sentence 2 are available to BaFin subject to § 34d paragraph 8 number 5, § 34e paragraph 2 and § 34g paragraph 1 sentence 2 number 5 of the trade regulations, in each case in connection with an ordinance issued for this purpose, § 5 paragraph 6a of the Capital Investment Code, § 308a of the Insurance Supervision Act and Section 47 of the Banking Act to other persons or associations of persons who advise on a PRIIP, sell it or are manufacturers of PRIIPs.

(2) 1Except for insurance companies under state supervision, BaFin is the competent authority within the meaning of Article 40 (1) of Regulation (EU) 2016/1011. 2It monitors compliance with the prohibitions and requirements of Regulation (EU) 2016/1011 as well as the delegated and implementing acts of the European Commission, which have been adopted on the basis of this Regulation, and can issue orders that are suitable and necessary for their enforcement. 3In particular, it can


1.
Take measures to correctly inform the public about the provision of a reference value and request corrections,

2.
from contributors who are active in spot markets and provide data for the creation of a raw material reference value, request information and the reporting of transactions, insofar as this is necessary in order to comply with the requirements and prohibitions of Regulation (EU) 2016/1011 with regard to monitor these raw material benchmarks; § 8 paragraph 2 sentences 2 and 3 and the provisions of an ordinance issued in accordance with § 8 paragraph 3 apply accordingly,

3.
in the event of a violation of Articles 4 to 16, 21, 23 to 29 and 34 of Regulation (EU) 2016/1011 or an enforceable order by the Federal Agency in connection with an investigation into compliance with the obligations under this Regulation in accordance with number 1 or 2, § 6 paragraph 3 sentence 4, paragraph 6 sentence 1, paragraph 8, 11 to 13, § 7 paragraph 2 has been issued

a)
require a supervised company within the meaning of Article 3 Paragraph 1 Number 17 of this Ordinance to permanently cease the acts or behavior giving rise to the breach,

b)
publish a warning in accordance with Section 6 (9) with regard to a supervised company within the meaning of Article 3 (1) number 17 of this Ordinance, naming the natural or legal person or association of persons who committed the breach,

c)
withdraw or suspend the authorization or registration of an administrator,

d)
prohibit a person from performing managerial tasks with an administrator or supervised contributor for a period of up to two years if the person committed the violation intentionally or with gross negligence and continues this behavior despite a warning from BaFin.


Text in the version of Article 2 of the Act introducing special provisions for the reorganization and resolution of central counterparties and adapting the Securities Trading Act to the information and proof obligations under Articles 4a and 10 of Regulation (EU) No. 648/2012 G. v . March 19, 2020 Federal Law Gazette I p. 529 w.v. March 28, 2020




 

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Earlier versions of Section 10 WpHG

The following list shows all changes to this regulation. Via the links current and before you can compare the old version (old version) and the new version (new version). You will find the full text of the Amendment Act and the legislator's justification.



Please note that retrospective changes - if any - are sorted in this list according to the date of publication of the change title (date in brackets) and not according to the date of entry into force.



 

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Citations from § 10 WpHG

You can see the regulations that refer to Section 10 of the WpHG. The list is subdivided according to citations in the WpHG itself, the basis for authorization, other applicable titles, amendment regulations and titles that have been repealed.

 
internal references

Section 11 WpHG notification of facts giving rise to a criminal offense (from November 26, 2019)

... The powers of the Federal Agency under Section 6 (2) to (13) as well as Sections 7 to 9 and 10 (2) remain unaffected, insofar as this is necessary for the implementation of administrative measures ...

Section 13 WpHG Immediate execution (from March 28, 2020)

... actions for contestation against measures pursuant to Section 6 (1) to 14 and Sections 7 to 10 and 54 (1) have no suspensive ...

 

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Quotation in the following standards

Asset Investment Act (VermAnlG)

Article 1 G. v. 06.12.2011 Federal Law Gazette I p. 2481; last amended by Article 7 G. v. May 12, 2021 Federal Law Gazette I p. 990

§ 18 VermAnlG prohibition of the public offer (from July 16, 2019)

... also with regard to investments. (3) BaFin has the powers mentioned in Section 10 (1), sentences 2 and 3 of the Securities Trading Act under the conditions mentioned there, also vis-à-vis providers and ...

 

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Quotations in amendment regulations

EMIR Implementation Act

G. v. February 13, 2013 Federal Law Gazette I p. 174


First Financial Market Amendment Act (1. FiMaNoG)

G. v. 30.06.2016 Federal Law Gazette I p. 1514, 2017 I 559


Law to introduce special provisions for the restructuring and resolution of central counterparties and to adapt the Securities Trading Act to the information and proof obligations under Articles 4a and 10 of Regulation (EU) No. 648/2012

G. v. March 19, 2020 Federal Law Gazette I p. 529


Second Financial Market Amendment Act (2nd FiMaNoG)

G. v. 23.06.2017 Federal Law Gazette I p. 1693; last amended by Article 12 G. v. 17.07.2017 Federal Law Gazette I p. 2446

Article 3 2. FiMaNoG Further amendments to the Securities Trading Act (from July 22nd, 2017)

... 11. The following Sections 9 to 13 are inserted after Section 8: “Section 9 Reduction and restriction of ... The powers of the Federal Agency under Section 6 Paragraphs 2 to 13 as well as Sections 7 to 9 and 10 Paragraph 2 remain unaffected by this, insofar as this is necessary for the implementation of administrative measures ... Actions for contestation against measures according to § 6 Paragraph 1 to 14 and §§ 7 to 10 have no suspensive effect. "12. § 4a becomes § 14 and as follows ... and market surveillance authority are specified. " 21. The previous section 10 becomes section 23 and in paragraph 2 sentence 3 the indication "§ 40b" is replaced by the indication ... from paragraph 4 sentences 5 to 8, § 8 "by the words" §§ 2, 3, 6 to 13, 17 Paragraph 2, Section 18 with the exception of Paragraph 7 Clause 5 to 8, Section 21 "... and enables verification of compliance with the provisions that is equivalent to Sections 6 to 15, 88 and 89." 93. Section 36b contravenes Section 92.94 ... (EU) 2016/1011 of an enforceable order issued by the Federal Agency pursuant to Sections 6 to 10. (12) An administrative offense is committed by anyone who deliberately or ... has issued pursuant to Section 6 (3) sentence 4 and (6, 8, 11 to 13), Section 7 (2), Section 10 (2) sentence 2 number 1 or 2, the paragraphs apply 1 to 5 accordingly with the proviso that the ...

Link to this site: https://www.buzer.de/gesetz/1262/a210933.htm

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