Information - Finanzanlagenvermittler/in; Beantragung einer Erlaubnis - Dienstleistungsportal Bayern

Description

As a financial investment broker, you independently broker financial products to customers, receiving a commission from the provider of the financial product. If you receive your fee from the customer, please apply for a permit as a fee-based financial investment advisor. You may not act as a financial investment broker and fee-based financial investment advisor at the same time.

As a financial investment intermediary, you are restricted to certain financial products by the so-called area exception of the German Banking Act. The permit covers (optionally) three product categories:

• Units or shares in domestic open-end
• investment funds, open-ended EU investment funds
  or foreign open-ended investment funds that may be distributed
  in accordance with the German Investment Code (Kapitalanlagegesetzbuch)
• Units or shares in domestic closed-end investment funds, closed-end EU investment funds or foreign closed-end investment funds that may be distributed in accordance with the German Investment Code (Kapitalanlagegesetzbuch) Asset investments

In addition to the permit, you must also be entered in the register of intermediaries. You can submit the application for this together with the permit application.

The content of your permit can be restricted and linked to ancillary provisions if the authority considers this to be necessary for the protection of the general public or the clients.
Under the same conditions, the subsequent inclusion, amendment and supplementation of conditions is also permitted.

The competent authority depends on your federal state. You will find an overview in the additional information.

Prerequisites

• The reliability required for the business operation, i.e. you have not been convicted of fraud or other crimes in the last 5 years
• Financial circumstances in order, i.e. you are not in private insolvency or entered in the debtors' register
• Professional liability insurance with a minimum coverage of 1.130.000,00 Euro for each insured event and 1.700.000,00 Euro for all insured events in one year in total.
• Expert knowledge through a passed IHK examination or through equivalent training qualifications and possibly corresponding professional experience

Procedure

You send the application for permission with all supporting documents to the relevant authority.

• The authority checks on the basis of your information and documents whether the legal requirements for the granting of permission are fulfilled.
• If you meet the requirements, you will receive the permit in writing by mail.

If you have not already applied for entry in the register of intermediaries together with the permit, you must still be entered in the register of intermediaries before you start working.

Special notes

Intermediaries as defined in Section 2 (1) No. 10 of the German Banking Act (KWG) are exempt from the licensing requirement. They are entered in a public register maintained by the Federal Financial Supervisory Authority (BaFin).

Deadlines

- none

Processing time

As soon as all documents are complete, processing takes place within several weeks.

Required documents

• Erforderliche Unterlage/n
  • Nachweis über die persönliche Zuverlässigkeit:   
    • Führungszeugnis und Auskunft aus dem Gewerbezentralregisters
  • Nachweis über geordnete Vermögensverhältnisse:  

  • Auskunft des Insolvenzgerichts, ob Verfahrens-eröffnung vorliegt (sog. Negativbescheinigung) ​​​​​​

  • Auszug aus dem Schuldnerverzeichnis des zentralen Vollstreckungsgerichts
  • Nachweis einer bestehenden Vermögensschaden-   Haftpflichtversicherung (Bescheinigung im Musterwortlaut) 
  • Sachkundenachweis (IHK-Sachkundeprüfungs-nachweis bzw. Nachweis über gleichgestellte Berufsqualifikation, siehe hierzu auch weiterführende Hinweise) 
  • Bei juristischen Personen und Personenhandels-gesellschaften: Handelsregisterauszug aus dem Land, in dem sich der Haupt-Firmensitz befindet 
  • Ggf. Übersetzung des (fremdsprachigen) Handelsregisterauszugs 

Fees

• Costs are incurred. The exact amount can be found in the fee schedule of the competent authority .

Legal bases

• § 11a Abs. 3a Gewerbeordnung (GewO)
• § 34f Gewerbeordnung (GewO)
• Finanzanlagenvermittlungsverordnung

Remedy

• Objection
• Administrative court proceedings, in some federal states only possible after objection

Links to more information

• Übersicht Finanzanlagenvermittler und -berater
• §4 Finanzanlagenvermittlerverordnung
• die

Related issues

• Financial investment intermediary or fee-based financial investment advisor; submission of the audit report or negative declaration