FRANKFURT (Reuters) – The German bank regulator BaFin said on Friday that it had threatened to fine Berlin-based Solaris if it doesn’t meet deadlines to improve anti-money laundering controls and other shortfalls.
BaFin also said that it was extending the mandate of a special monitor installed since 2022 to oversee progress.
Solaris said that it was continuing “to make significant progress … to implement additional measures addressing the identified deficiencies”.
It called the extension of the monitor’s mandate a “formality” and said wouldn’t impact its operations.
(Reporting by Tom Sims, editing by Miranda Murray)
