It has been reported that BaFin, Germany's federal financial supervisory authority, is aiming to achieve more oversight of crowdlending financial and distribution services. Firms involved in crowdlending activities will need to consider whether they need to be licensed by BaFin and there will be increased scrutiny from the regulator in this sector. Press reports indicate that BaFin will take a much stricter approach, than it has to date, formally assessing contractual arrangements connected to crowdlending before a permit is granted.