Brokerage and advice of financial investments Permit

  • If you wish to become a commercial financial investment intermediary or financial investment advisor , you must obtain a licence
  • Permission may be granted to a natural or legal person
  • Additional : depending on the federal state Chamber of Industry and Commerce, trade authorities or districts / district-free st ä dt
  • Proof of personal public reliability:
    • Certificate of completion and information from the Central Trade Register
  • Proof of orderly relationships :
  • Information from the insolvency court as to whether the opening of proceedings has been made (so-called negative certificate)
  • Extract from the debtor register of the central enforcement court
  • Proof of existing public damagesNumberment insurance (certificate in sample wording)
  • Certificate of competence (IHKSachkundepr fungsnachweis or proof of equivalent professional qualification, see also further information)
  • For legal entities and partnerships: Extract from the commercial register from the country in which the head office of the company is located
  • If applicable. Translation of the (foreign-language) extract from the commercial register
  • Forms:
    Application for a licence as a financial investment intermediary (use is recommended)
  • Online procedure possible if necessary
  • Written form required: no
  • Personal appearance required: no

Preconditions

  • The reliability required for the commercial enterprise , i.e. You have not been convicted of fraud or other crimes in the last 5 years
  • Orderly trade agreements , i.e. You are not in private insolvency or are entered in the debtor register
  • Professional indemnity insurance with a minimum coverage of EUR 1,130,000.00 for each insured event and EUR 1,700,000.00 for all insurance cases in a total of one year.
  • Competence through a passed IHKPr passing or through equivalent training qualifications and possibly publicly corresponding professional experience

Hints

Intermediaries within the meaning of § 2 paragraph 1 number 10 of the German Banking Act (KWG) are exempt from the authorisation requirement. They are entered in a public register maintained by the Federal Financial Supervisory Authority (BaFin).

Related Links

  • § 34f Gewerbeverordnung (GewO)
  • Financial Investment Brokerage Ordinance

You send the application for permission with all the evidence to the competent authority.

  • On the basis of your information and documents, the authority will check whether the legal requirements for granting a permit have been met.
  • If you meet the requirements , you will receive permission in writing by post

If you have not already applied for the entry in the register of intermediaries together with the permission, you must still register in the register of intermediaries before you are appointed.

Responsible for the content
Lower Saxony Ministry of Economic Affairs, Labour, Transport and Digitalisation

Last update or date of publication
24.02.2021