fpmi views the ever-growing influence of hedge funds upon the financial and business communities as posing a danger to the international financial markets’ stability. For this reason, an international-level code regulating the operations of these funds needs to be enacted, believes fpmi.
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Most of Germany’s banks are satisfied with the country’s system of financial sector supervision. Many banks criticize the lack of accountability arising from the division of responsibilities between the Deutsche Bundesbank and the Bundesanstalt für Finanzdienstleistungsaufsicht.
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Munich Financial Center Initiative (fpmi) maintains that the objective of the proposed reform of the Bank Account Attachment Act should be the maximum possible reduction of the complexity of the bank account attachment procedure experienced by all parties involved.
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The costs incurred by Germany’s banks from administrative operations decreed by the state amount to more than €3 billion a year. These are the findings of an appraisal conducted by the Cologne-based Institut der deutschen Wirtschaft (IW) Consult GmbH and commisssioned by …
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fpmi contends that the proposed incorporation of the EU’s MiFID into Germany’s body of legislation should not be employed as an occasion to enhance the powers enjoyed by Germany’s Agency for the Supervision of Financial Services by curtailing the independence of operation accorded to …
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fpmi have come out in favor of a reform of Germany’s corporate tax code which will lead to a sustainable reduction in corporations’ net tax burdens. This will be achieved by the avoiding of a comprehensively-large broadening of their bases of tax assessment.
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The draft of the insurance contract act (ICA) does have several productive provisions, believe the insurers and several other members of the Munich Financial Center Initiative (fpmi).
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Germany’s government resolved in July to introduce a final withholding tax on capital investments. Munich Financial Center Initiative views the move as being a step in the right direction. For this reason, it is highly important that the legislative process impart an efficacious structure to the tax.
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Munich May 23, 2006 – The Munich Financial Center Initiative is calling for the authorization of real estate investment trusts by the beginning of 2007 in Germany.
A later date of introduction, or a limited one, would have negative effects on Germany's real estate and capital markets.
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fpmi views the second draft by the EU Commission on the Consumer Credit Directive as containing points still requiring improvement. Should the draft be implemented in its present form, it would inevitably make consumer credit more expensive, and would make it more difficult for bank …
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Bavaria's Economics Vice-Minister Spitzner on a visit to Brussels with the Munich Financial Center Initiative / Regulatory pause called for in the financial sector.
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The thicket of financial market regulations constitutes a great encumbrance upon the members of Bavaria's financial community, whose viability is impaired by it. This damages the economy as a whole. With these facts in mind, fpmi is calling for this over-regulation to be reduced.
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Small and medium-sized companies are an integral part of the Bavarian economy. The Munich Financial Center Initiative supports these businesses with numerous measures and services.
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