For securities and other investments, which are publicly offered in Germany, a BaFin-approved prospectus must generally be published. The type of prospectus needed depends on the offered participation: A so called security prospectus has to be prepared for securities. For participations , such as shares in a “Kommanditgesellschaft” (which is a certain kind of limited partnership), silent partnership or profit participation right, a so called sales prospectus is needed.

BaFin only examines whether the prospectus is complete, which includes the coherence (self-consistency) and readability of the prospectus. The accuracy of the content is not being examined.

This notwithstanding, the accuracy is of crucial importance, as the prospectus is the main basis of liability for the investor. If the prospectus does not contain the essential information for the investment decision or if the information in the prospectus is not in line with the realities, the investor is able to assert claims for damages.

The services offered by us comprise:

  • Preparation and conception of prospectuses
  • Attendance of the BaFin acceptance and approval procedures
  • Counselling regarding disclosure obligations after publishing of prospectuses
  • Preparation of amendments to the prospectuses

We also examine prospectuses, which have already been prepared and published, regarding the compliance with applicable law.