*by Johannes Fiala, Attorney at Law (Munich), M.B.A. (Univ.Wales), M.M. (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Banker Karl-Heinz Weber, Dipl.-Kfm., Certified Public Accountant and Tax Advisor, Member of LWSB e.V., Chamber of Tax Advisors Munich, WPK Düsseldorf,IdW Düsseldorf To whom do I entrust my money? In the search for an answer, […]
Who do I trust with my money? In the search for an answer, brokers are according to the BGH judgement of 13.12.2000 (Az. III ZR 62/99) ?? obligated to examine the investment concept, concerning which they are to give information, (at least) for plausibility ?? One of the simplest ways of checking the seriousness and […]
Why training and sales managers are personally liable in private health insurance sales. An analysis by attorney Dr. Johannes Fiala and mathematician Peter A. Schramm. Landauf Landab insurance brokers, independent financial service providers and bank advisors complain that at sales events held by trainers, they actually only experience positive product features through colourful pictures, […]
In its ruling of 3 August 2017 (Ref. V R 19/16), the Federal Court of Finance (BFH) decided that the establishment of a structured sales organisation is not exempt from VAT. In principle, this not only applies to structured sales organisations and other distribution companies and pools, but also to insurance intermediaries (agents), insurance brokers […]
*by Johannes Fiala (Munich), attorney (www.fiala.de), and Peter A. Schramm (Diethardt), actuarial expert (www.pkv-gutachter.de) No company pension scheme This is not a way of implementing a company pension scheme. Rather, it is a matter of a “gross saving” by the employee, whereby an “incident” can occur at any time, which then triggers a payment as […]
The difference between the right word and the almost right word is the same as between a flash of lightning and a firefly (Mark Twain, US storyteller and satirist, 1835 – 1910). Since many training courses of product providers and/or distributors are based on legal statements whose contents were not checked in advance, the […]
*by Johannes Fiala, Lawyer (Munich), 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) He who knows nothing must believe everything.” (Marie von Ebner-Eschenbach) For the financial service provider, the BGH stipulated in its ruling of 13.01.2000 (Ref. III ZR 62/99) that […]
– When sellers, intermediaries and advisors are themselves in the fire in the case of insolvent investments – A well-known structural distributor was ordered to pay damages by judgment of 31.07.2014 (LG Frankfurt/Main, Case No. 2-32 O 154/13) because an investment advisor insufficiently informed about risks of a real estate fund. Structural distributors and […]
– When insurance brokers and agents are liable for the uninsured like insurers -. The German Insurance Association (GDV) puts the insured losses from the flood disaster in July at around €7bn. However, for damages that are not insured in whole or in part, the liability of the insurance intermediary, who often provides “support”, […]
– Obligation of the insurance broker to advise in the case of brokering in the secondary market for life insurance policies – An insurance broker was ordered to pay damages by the Higher Regional Court of Dresden (OLG, ruling of 29 February 2019, file no. 4 U 942/17) because he had not informed the policyholder […]
