The members of the management board and of the administrative or supervisory board as well as key function holders must possess sufficient knowledge, skills and experience, be of good repute and also commit sufficient time to the performance of their duties.
Anyone wishing to conduct one or more of the banking activities specified in the Banking Act on a commercial scale in Germany requires authorisation from the competent supervisory authority.
Anyone intending to acquire a significant holding in an institution or to increase an existing significant holding beyond certain thresholds must report this in writing without delay to BaFin and the Deutsche Bundesbank.