A variety of insurance products that is difficult for consumers to understand encourages them to make a choice only after consulting a market observer. However, the involvement of experts in investment decisions raises the question of responsibility for their actions. What possibilities of recourse to liability have those seeking advice or otherwise turned to, what […]
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 […]
All too often, intermediaries in investment sales blindly rely on external expert opinions and apparent evidence. At the same time, it is precisely the music accompanying the sales prospectus that sometimes provides the reasons to be cautious. Ralf Werner Barth: “Every advisor is well advised, even obliged, to inform himself carefully about the product […]
– Whereupon in particular financial plant mediators in accordance with § 34 f exp. 1 GewO and intermediaries of financial services according to § 34 c GewO, as well as insurance brokers have to pay attention to – Currently, thousands and thousands of advisors and brokers are receiving notices from their asset protection liability […]
How municipal officials can prepare for their defense Some cities and towns tend to make the budget look more positive than it really is. That’s where fictitious revenue is booked to show a balanced budget. Expenditure already incurred shall be carried forward to the following financial year. The budget thus appears balanced, showing a surplus […]
Among lawyers, the old adage still applies: “iudex non calculat”. But a few days ago, an article1 appeared in the business section of the FAZ, which, due to the headline, did not reveal the explosive nature of the author’s comments on the subject of yields. In everyday life we often use terms about whose meaning […]
After Riester and Rürup products for additional private old-age provision initially failed to sell, tax-saving effects and sales commissions were increased. Since then, more than ten million such contracts have been sold, most of which would not be profitable at all without the tax effect. However, more than one million such contracts have since been […]
In the light of the judgement of the Federal Court of Justice (BGH) of 22.05.1985 One can debate the issue, hold other legal opinions, or like us here, set a judgment as a reference point. We still consider the judgement to be trend-setting, because it describes the obligations which an insurance intermediary, in this […]
The legislator has restricted the obligation to file for insolvency for all companies in Germany without exception. An alternative to “continuing to operate until insolvency” can be restructuring by means of “structured insolvency”. German companies would be allowed to continue operating over-indebted, without going bankrupt. The relevant statutory provision is § 19 II of the […]
Credit risks due to changes in the insolvency code The Financial Market Stabilisation Act (Finanzmarktstabilisierungsgesetz – FMSTG) eliminated the equity capital requirements for companies that had previously been customary: At its core, this relates to the amendment of the provision of section 19 II of the Insolvency Code (InsO), according to which over-indebtedness now only […]
