Risk managers in German financial sector must prepare for closer BaFin scrutiny in 2020

BaFin president Felix Hufeld. Credit: Bernd Roselieb/BaFin

BaFin, the German insurance supervisory authority, will focus on IT and cyber risks, digitalisation, the fight against financial crime and sustainability of business models in the year ahead, according to its president Felix Hufeld. The former CEO of Marsh Germany from 2001 to 2010, he also believes that the risk-based approach to regulation, including the principle of proportionality that allows…

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