Illegal personnel consulting: Expert fee-based consulting with hidden commission

– BGH ruling: Liability of management consultants in occupational pension schemes – – OLG Munich judgment: Financial firms liable for kick-backs to tax advisors – Remuneration issue: fee at the front – commission at the back A current letter from the Federal Ministry of Justice points out to the state judicial administrations that a license […]

BAV: Legal framework of fee-based consulting

Last Updated Saturday, August 18, 2007 Why fee-based consulting in BAV? In the company pension scheme, including e.g. the working time account (ZWK), the employer has numerous possibilities of liability. These include, for example, the “Zillmerungshaftung”, the “Ausfallhaftung” and the obligation to protect the gross salary saved together with the employer’s social security contribution against […]

Federal Supreme Court prohibits insurance consultants from charging contingency fees for changing tariffs in private health insurance

– How the insurance consultant with a second job may do exactly this and more nevertheless –   Insurance brokers as well as insurance consultants are allowed to offer policyholders (VN) in private health insurance (PKV) at the change of tariff according to the new tariff. § Section 204 of the German Insurance Contract Act […]

What does a broker have to consider when switching to fee-based advice?

From the series of newsletters of the DHBW (Baden-Wuerttemberg Cooperative State University) Heidenheim on the topic “Mediation Law in Practice”: At this point, lawyer Dr. Johannes Fiala, https://www.fiala.de, lecturer for insurance law at the DHBW Heidenheim, will answer your questions. Questions can be asked by emailing ott@dhbw-heidenheim.de.   Since 2008, the legislator has defined in […]

“Fee-based advisors” instead of multiple agents, exclusivity or insurance brokers?

“Fee-based advisors” instead of multiple agents, exclusivity or insurance brokers? * – A megatrend with built-in liability for insurance intermediaries – *by Dr. Johannes Fiala, lawyer (Munich), MBA Financial Services (Univ.), MM (Univ.), certified financial and investment advisor (A.F.A.), lecturer in civil and insurance law (BA Heidenheim, Univ. of Cooperative Education), (www.fiala.de) and Dipl.-Math. Peter […]

“Fee-based advisors” instead of multiple agents, exclusivity or insurance brokers?

A megatrend with built-in incitement to – and liability for – tax evasion *by Dr. Johannes Fiala, Attorney at Law (Munich), MBA Financial Services (Univ.), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), Lecturer for Civil and Insurance Law (BA Heidenheim, Univ. of Cooperative Education), (www.fiala.de) and Dipl.-.Math. Peter A. Schramm, expert for actuarial science […]

Insurance brokers: So-called fee-based advisors as the gravediggers of the intermediary profession

– The broker’s main service is mediation in return for a brokerage fee – *by Dr. Johannes Fiala, Attorney at Law (Munich), MBA Financial Services (Univ.), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), Lecturer for Civil and Insurance Law (BA Heidenheim, Univ. of Cooperative Education), (www.fiala.de) and Dipl.-.Math. Peter A. Schramm, expert for actuarial […]

Occupational pension schemes: Legal framework for fee-based advice*.

*by Johannes Fiala (Munich), Attorney at Law (www.fiala.de), and Peter A. Schramm (Diethardt), Actuarial Expert (www.pkv-gutachter.de). Why fee-based consulting in occupational pension schemes? In occupational pension schemes, including e.g. the working time account (ZWK), the employer is subject to numerous possibilities of liability. These include, for example, the “Zillmerungshaf-tung”, the “Ausfallhaftung” as well as the […]