Germany's all-in-one financial regulator has established a central contact point for so-called 'whistle-blowers.'

People with information to disclose about wrongdoing may use this contact to report violations of supervisory provisions. Their anonymity is a top priority for the BaFin.

The regulators have written: "Whistleblowers play an important role in identifying violations of supervisory law. They can make a valuable contribution towards uncovering misconduct by people or entire companies in the financial sector as well as stemming or correcting the negative consequences of such misconduct. Whistleblowers need to be sure, however, that they will not incur any disadvantages by revealing their identity when they report misconduct to BaFin."

The regulators do not pass on the identities of the telltales to so-called third parties 'in principle.' In any case, they are always able (and, indeed, invited) to contact the BaFin anonymously. They can get in touch in writing on paper or email; by phone, with or without the conversation being recorded; and by talking to BaFin employees.

The legal basis for the establishment of the contact point for whistleblowers is section 4d of the German Act Establishing the Federal Financial Supervisory Authority (Finanzdienstleistungsaufsichtsgesetz – FinDAG) introduced by the First Financial Markets Amendment Act (Erstes Finanzmarktnovellierungsgesetz).

The contact point for whistleblowers does not replace BaFin's consumer helpline but is instead aimed at persons with a special knowledge of a company's internal affairs – for example because they are employed there or have some other contractual relationship or relationship of trust with the company.