Whoever wants to conduct banking or financial services in Germany will need a permission in writing by BaFin conforming with § 32 KWG. The exact requirements for the granting of such a permission depends on the nature of the intended business.

But there are also exceptions to the need of a permission. Someone who does not conduct banking and only offers the financial services investment broking, contract broking, placement of securities or investment advisory services under the liability of a deposit bank or securities trading company, does not need a KWG-conforming permission (so called tied agent).

If a financial service provider does not have a KWG-conforming permission and no exception is applicable, BaFin has reason to assume that financial services are provided without permission. BaFin will then examine the case by requesting comprehensive information and in the case of a verification of the suspicion will prohibit the business of the company in question by issuing a formal prohibition order.

The services offered by us comprise:

• Carrying out permission procedures with BaFin according to § 32 KWG
• Counselling regarding the establishment of a tied agent status including the preparation of the respective contracts
• Legal representation of interests regarding formal requests for information and prohibition orders of BaFin because of illegally conducting banking or financial services