German industry gears up to oppose CLN ban

German Derivatives Association argues ban is unlawful

Bafin offices in Bonn
Bafin could face a court challenge to its proposed ban on credit-linked notes

A ban on the sale of retail credit-linked notes (CLNs) in Germany has been branded "crazy" and "contrary to the law" as industry stakeholders prepare to challenge the proposal in the courts.

The German financial regulator, Bafin, proposed the shutdown of the €6.3 billion market on July 28 and published a draft of its proposed General Administrative Act on the same day. The window for comments on the draft closed on September 2.

Market participants were caught unawares by the proposal

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here