page_title: Federal Financial Supervisory Authority
section_title: Organization
hierarchical_section_title: Federal Financial Supervisory Authority / Organization
caption_attribution_description: Deutsch: Bundesanstalt für Finanzdienstleistungsaufsicht, Bonn-Castell
context_page_description: The Federal Financial Supervisory Authority better known by its abbreviation BaFin is the financial regulatory authority for Germany. It is an independent federal institution with headquarters in Bonn and Frankfurt and falls under the supervision of the Federal Ministry of Finance. BaFin supervises about 2,700 banks, 800 financial services institutions and over 700 insurance undertakings.
context_section_description: BaFin is run by a Board consisting of the President, Felix Hufeld, and four executive directors: Elisabeth Roegele (securities division), Raimund Röseler (banking supervision), Dr. Frank Grund (insurance supervision) and Beatrice Freiwald (cross-functional areas and internal administration).
  In addition to these divisions, the so-called "operational pillars", there are a number of departments that have cross-organizational or perform administrative tasks, such as "risk modeling", "money laundering" and "international responsibilities".
  BaFin employs roughly 2,530 at its two offices and is fully funded by fees and levies of the supervised institutions and companies and so is independent of the federal budget.  The levy amounts depend on the scope and authorization of total assets.  An appeal to the Constitutional Court regarding the unconstitutionality of this (forced) levy in 2009 was rejected as unfounded. In the opinion of the court the levy is 'intended to strengthen the investor confidence and the soundness and integrity of these companies.  These are a necessary condition for a functioning financial framework'.
  As of December 2014, BaFin regulated approximately 1,780 banks, 676 financial services institutions, 573 insurance companies, 31 pension funds, 6,000 domestic investment funds and 260 investment companies.
caption: BaFin Office in Bonn
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