According to CoinMeta, Germany's financial regulatory agency, the Federal Financial Supervisory Authority (BaFin), has expanded the powers of its special representatives stationed at a subsidiary of Deutsche Finanzgruppe, granting them management functions in order to further strengthen supervision over this asset management company involved in billions of euros in poor US real estate investments. The authority announced this decision on Monday with the aim of protecting investors' interests and ensuring that all funds managed by the subsidiary are operated properly. Less than a week ago, prosecutors in Munich conducted searches on the real estate investments of a German pension fund group bvk in the United States. bvk previously disclosed that some of its real estate investments in the US, involving Deutsche Finanzgruppe and real estate developer shvo, suffered huge losses. Of the approximately 1.6 billion euros invested, as much as 853 million euros (about 955 million US dollars) may ultimately need to be written off, with 392 million euros already written off by the end of last year.