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Germany's financial regulator BaFin has issued new supervisory guidance on virtual IBANs, addressing concerns about transparency in payment flows and beneficial ownership while affirming that vIBANs remain legitimate payment infrastructure. The communication requires firms to demonstrate that their governance, customer transparency and monitoring arrangements have kept pace with technological innovation, particularly in relation to anti-money laundering and counter-terrorist financing controls.

Germany's regular works council elections have concluded, bringing new members into established bodies. Understanding the fundamental aspects of works council operations—from release from work duties and training requirements to remuneration rules and the transition of former members—is essential for employers seeking to establish effective cooperation and avoid legal pitfalls.

As sustainability criteria evolve from voluntary commitments into hard-edged determinants of corporate finance, companies seeking refinancing in distress situations must now present credible...