Financial investment brokerage - Application for authorisation
Service description
The Financial Investment Brokers Ordinance (FinVermV) came into force on 1 January 2013. Self-employed and dependent investment advisors and brokers must submit new licence applications.
Financial investment brokerage - application for authorisation:
Any person who, within the scope of the exemption under section 2 (6) sentence 1 no. 8 of the German Banking Act
1. units or shares in domestic open-ended investment funds, open-ended EU investment funds or foreign open-ended investment funds that may be distributed in accordance with the German Investment Code
2. 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
3. Investments within the meaning of Section 1 (2) of the German Investment Actinvestment advice within the meaning of Section 1 (1a) no. 1a of the German Banking Act (Kreditwesengesetz) or to broker the conclusion of contracts for the acquisition of such financial investments (financial investment broker) requires a licence from the competent authority.
Prerequisites
The following personal authorisation requirements must be met by the applicant or their legal representative:
- Reliability (§ 34f paragraph 2 number 1 GewO)
- Orderly financial circumstances (§ 34f paragraph 2 number 2 GewO)
- Proof of professional liability insurance (§ 34f paragraph 2 number 3 GewO)
- Expertise (§ 34f paragraph 2 number 4 GewO)
Which documents are required?
- Certificate of good conduct for submission to an authority (§ 30 para. 5 BZRG)
- Extract from the central trade register (Section 150 (5) GewO)
- Certificate in tax matters from the tax office
- Clearance certificate from the municipal tax office
- Extract from the debtor register of the enforcement court (Section 882 b ZPO)
- Information from the insolvency court as to whether proceedings have been opened
- Proof of professional indemnity insurance
- Proof of the required expertise
- for legal entities: Extract from the commercial register
What fees are charged?
New applications Natural person Legal entity Basic fee 500 € 600 € No. 1 / Share certificates 200 € 200 € No. 2 / Closed-end funds 200 € 200 € No. 3 / Other investments 200 € 200 € Applications / Forms
- Application: Entry in the register of intermediaries - legal entity (pdf)
- Application: Entry in the register of intermediaries - natural person (pdf)
- Application: Grant of a licence pursuant to Section 34f (1) of the Trade, Commerce and Industry Regulation Act - legal entity (pdf)
- Application: Grant of a licence pursuant to Section 34f (1) of the Trade, Commerce and Industry Regulation Act - natural person (pdf)
- Negative declaration in accordance with Section 24 of the Financial Investment Brokerage Ordinance (pdf)