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Source: BUS Sachsen-Anhalt (Linie6PLus)

Applying for a permit for financial investment intermediaries


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

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

  • Shares or shares in domestic open-ended
  • Investment funds, open-ended EU investment funds
    or foreign open-ended investment funds that
    may be marketed in accordance with the Capital Investment Code
  • Shares or shares in domestic closed-end investment funds, closed-end EU investment funds or foreign closed-end investment funds that may be marketed under the Capital Investment Code

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

Their permission may be limited in content and combined with ancillary provisions, provided that this is necessary from the point of view of the authority for the protection of the general public or the contracting authorities.
Under the same conditions, the subsequent inclusion, amendment and supplementation of conditions are also permitted.

The competent authority depends on your federal state. An overview can be found in the further notes.

  • The reliability necessary for the commercial operation, i.e. You have not been convicted of fraud or other crimes in the last 5 years
  • orderly financial circumstances, i.e. You are not in private insolvency or are entered in the debtor register
  • Professional indemnity insurance with a minimum coverage of 1,130,000.00 euros for each insured event and 1,700,000.00 euros for all insurance claims of a year in total.
  • Expertise through a passed IHK examination or through equivalent training qualifications and possibly corresponding professional experience
  • Proof of personal reliability:
    • Certificate of good conduct and information from the Central Trade Register
  • 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 central enforcement court
  • Proof of an existing financial loss liability insurance (certificate in sample wording)
  • Proof of competence (IHK certificate of competence examination or proof of equivalent professional qualification, see also further information)
  • For legal entities and commercial partnerships: Extract from the commercial register from the country in which the main registered office is located
  • If applicable, translation of the (foreign-language) excerpt from the commercial register

There are costs. The exact amount can be found in the scale of fees of the competent authority.

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

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

Please contact the district or the district-free city.

  • Forms:
    Application for a licence as a financial investment intermediary
  • Online procedure possible if necessary
  • Written form required: no
  • Personal appearance required: no

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

  • On the basis of your information and documents, the authority checks whether the legal requirements for granting a permit are 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 take action.

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).

Association of German Chambers of Industry and Commerce

The text was automatically translated based on the German content.

No authority found