BaFin, the Germany regulatory, insisted that we need to hire staff to sit in Frankfurt before it will grant us a licence. However, we do not purport to do so - what do you think our response to BaFin should be?

Question

BaFin, the Germany regulatory, insisted that we need to hire staff to sit in Frankfurt before it will grant us a licence.  However, we do not purport to do so - what do you think our response to BaFin should be?

Anonymous · Accepted Answer

I gave the answer.  However, together with the written exercise both are clearly real life problems which the interviewers took the opportunity to obtain free legal advice/input.

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