Financial asset broker permission

If you want to work commercially as a financial asset intermediary or financial asset advisor, you need a permit. Commercial intermediaries and consultants of: shares or shares in domestic open-ended investment assets, open-ended EU investment assets or foreign open investment assets that may be sold under the Investment Code; shares or shares in foreign open-ended investment assets, closed-end EU investment assets or foreign closed-end investment assets which may be sold under the Investment Code; Investments within the meaning of Section 1 (2) of the Assets Act (VermAnlG).

Proof of personal reliability: Certificate of leadership Information from the Central Register of Trade (for submission to an authority) Proof of orderly financial circumstances: Information from the insolvency court as to whether proceedings have been opened (so-called negative certificate) Extract from the debtor register of the district court in whose district the applicant was domiciled or a commercial establishment Certificate in tax matters of the competent tax office Proof of existing liability for property damage (certificate of insurance) Certificate of expertise (IHK certificate of expertise or diploma/certificate) in the case of legal entities: extract of commercial registers from the country in which the main company is located If necessary, translation of the (foreign-language) commercial register extract valid identity card or passport


Preconditions
personal reliability orderly financial situation Property damage liability insurance ability

Hints
The intermediary is exempt from the authorisation requirement within the meaning of Section 2 (1) (1) of the Law on Credit (KWG). They are entered in a public register maintained by the Federal Financial Supervisory Authority (BaFin).

Responsible for the content
Ministry of Economy, Labour and Energy

Last update or date of publication
26.05.2020