Brief: BaFin Orders Assurance Of Proper Business Organization, Additional Capital Requirements For Quirin Privatbank

Quirin Privatbank AG

25/04/2022 10:36

April 25 (Reuters) - BaFin:
    * ORDERS ASSURANCE OF PROPER BUSINESS ORGANIZATION AND
ADDITIONAL
CAPITAL REQUIREMENTS OF QUIRIN PRIVATBANK AG
    * REASON FOR THE MEASURES IS A BREACH OF THE REQUIREMENTS
FOR
PROPER BUSINESS ORGANIZATION WITHIN THE MEANING OF SECTION 25A
(1) OF THE KWG
    * SPECIAL AUDIT REVEALED THAT THE BUSINESS ORGANIZATION WAS
NOT IN
ORDER WITHIN THE MEANING OF SECTION 25A (1) OF THE GERMAN
BANKING ACT (KWG) IN ALL THE AREAS AUDITED
    * NOTICES HAVE BEEN FINAL SINCE 28 FEBRUARY 2022 AND 11
APRIL 2022
RESPECTIVELY

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