Reversal of closed participations and life insurances through rescission, revocation and termination?

– How capital investors can be deceived systematically also by “money back! order” –   Current BGH ruling on the invalidity of “money-back orders The Federal Court of Justice (BGH. Judgment of 11.12.2013, Ref. IV ZR 46/13) ruled that the purchase of “used” life insurance policies is null and void unless it is a genuine […]

Liability trap: occupational pension reinsurance with closed participations

*by Dr. Johannes Fiala, Lawyer (Munich), Mediator (Univ.), MBA Financial Services (Univ.Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Lecturer in Civil and Insurance Law (Univ. of Cooperative Education), Banker (www.fiala.de) What some people pretend to themselves, that no one imitates them so quickly. (Gerd Uhlenbrock) Both in the company pension […]

Company pension scheme (bAV) and working time account models (ZWK) – New BGH ruling on reversal in the case of capital investment in closed participations

*by Dr. Johannes Fiala, Lawyer (Munich), Mediator (Univ.), MBA Financial Services (Univ.Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Lecturer in Civil and Insurance Law (Univ. of Cooperative Education), Banker (www.fiala.de) You can’t solve a problem with the same mindset that created it. (Albert Einstein) Also renowned offerers of closed participation […]

Reduction of liability and plausibility checks for investment advisors in closed-end fund offerings – Part 2

The investment adviser must fulfil his main duties. He cannot rely on the assessment of third parties. One will be able to trust an experienced investment advisor that he is able to carry out a plausibility check based on the basic investment criteria and specific extensions to the investment category.   Plausibility is the estimation […]

Reduction of liability and plausibility check for investment advisors for closed-end fund offers – Part I

The liability risks of insurance brokers, investment brokers and consultants, but also of distributors and financial planners, differ depending on the customer (advice suitable for investors), capital investment (advice suitable for the property) or the risk involved (advice following property inspection and risk analysis). Obligation to disclose commissions – or reverse the transaction: This first […]

Distribution of closed-end investments

The liability risks of the sales department in this area already differ according to the customer (investor-oriented advice), the capital investment (object-oriented advice) or the risk involved (advice after object examination and risk analysis). In addition, a plethora of potential pitfalls to be aware of.   The latest rulings of the Federal Court of Justice […]

Investment advisors are liable for failure to inform about the lack of resale opportunities of closed-end investments/funds.

Politics, Law & Society Press release by: Law Firm Dr. Johannes Fiala PR Agency: Dr. Johannes Fiala Every year, investors invest tens of billions in so-called closed-end investments – only a fraction perform according to the specifications in the prospectus. The Federal High Court (BGH) decided now for the first time (judgement of 18.01.2007, Az. […]

Controlling and distribution law: Increasingly large VSH gaps in the area of closed-end funds and investments

*by Johannes Fiala, Lawyer (Munich), Mediator (Univ.), MBA Financial Services (Univ.Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Lecturer (Univ. of Cooperative Education), Banker (www.fiala.de) Never do anything by halves, or you’ll lose more than you can ever recover. (Louis Armstrong, American jazz musician, 1900 – 1971) The VSH broker Ralf […]

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Sales risk: Closed-end investments with trust structures

*by Johannes Fiala, Lawyer (Munich), Mediator (Univ.), MBA Financial Services (Univ.Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Lecturer (Univ. of Cooperative Education), Banker (www.fiala.de) “Most transportation taxes, including sales taxes, have no deeper purpose than to bring money to the state.” Federal Fiscal Court (BFH), in: BStBl 1973, p.96 From […]

Investment advisors are liable for failure to inform about the lack of resale opportunities of closed-end investments/funds.

Author: Kanzlei Dr. Johannes Fiala Published on: 24.07.2007 at 11:53 Each year investors invest double-digit billion amounts in so-called closed participation ‘” only a fraction develops according to the data in the folder. The Federal High Court (BGH) decided now for the first time (judgement of 18.01.2007, Az. III ZR 44/06) that investment consultants have […]