Search results for: Foreign bank

Out of the advisor liability: By mediator recourse with banks and selling !

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– Liability for faulty, incomplete sales training – by RA Johannes Fiala, banker (IHK), certified financial and investment advisor (A.F.A.), business economist (M.B.A., Univ.), court-appointed expert (financial services sector), IHK examiner (Finanzfachwirt), www.fiala.de Attorney Johannes Fiala explains exclusively for experten.de, at the example of the credit-financed pension, central solution beginnings, in order to come as […]

Leverage transactions ; chance of multiple profit ? but also private bankruptcy risk! (at the same time with reference to the new BGH ruling on consultant liability, V ZR 402/99)

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by Johannes Fiala, lawyer Leveraged transactions are in practice referred to by financial service providers as “savings annuity”, “savings annuity”, “lex annuity”, “interest rate differential transaction”, “loan-financed annuity”, “immediate annuity”, “leveraged annuity”, “guaranteed annuity”, “loan-financed life insurance”, “leveraged life insurance”, “fixed loan with redemption replacement”, “leveraged pool”, “loan-financed investment”, “fixed loan with repayment substitute”, “leveraged […]

Empty hope: Beneficiary status through subscription rights in life insurance

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The subscription right regulates who is entitled to the agreed benefit in the event of an insured event. Insured persons can determine their individual subscription rights in order to avoid disputes later on. Why can someone else become a beneficiary in case of doubt despite the subscription right?   Can subscription rights be revoked? The […]

Blackboard papers guarantee tax exemption – or tax evasion-deluxe until the end of 2016

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– Which loopholes the legislator still allows the investor tax-free – For decades it has been customary for many investors to store their securities in effective certificates in a safe deposit box. For the older generation, the reason is a war experience, so that, if necessary, one can pick up bonds and shares at any […]

Insurance obligation in the KV? Part 1

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On 15 July 2015, the Federal Financial Supervisory Authority (BaFin) issued a statement on foreign private health insurance (PKV), including considerable legal errors. “And just don’t say one thing, “I will do this tomorrow,” unless (you add) “If God wills it.” And remember thy Lord, when thou forgets, and say, “Perhaps my Lord will guide […]

Attorney-client privilege or tax liability

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“Don’t go to the prince before you are summoned,” says attorney Rüstig, until suddenly his first liability notice is delivered to him personally.   He had been obedient since 1.1. In 1993, he complied with the Interest Discount Act (“ZaSt “er!) by distributing the interest income from escrow accounts among his clients and then certifying […]

Deposit insurance for credit institutions and securities trading firms, Part 1

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When maybe only 100,000 euros are secured and the rest becomes a restructuring profit for the bank….   The Financial Market Authority cannot prevent the insolvency of credit institutions, securities trading houses or insurance companies. For securities trading companies, the maximum compensation obligation is 90% of up to EUR 20,000. In the past, there was […]

Investment brokering as an unlawful act with subsequent criminal proceedings

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Why mediators of dubious investment models cannot hope for residual debt discharge   Complicity and aiding and abetting in the unauthorised conduct of banking business, section 32 KWG The Federal Court of Justice (BGH, judgement of 21.04.2005, ref. III ZR 280/03) decided that § 32 of the German Banking Act (KWG) also applies in favour […]

Camouflage constructs in the enforcement practice of the tax office – or tax evasion deluxe* How tax authorities discover incomplete voluntary declarations and find hidden funds

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1. the fairy tale of the wild-eyed lone perpetrator Bankers and representatives of foreign life insurers must be willing to travel and be creative. Even dubious arrangements should at least leave the customer with the feeling that “the tax authorities will certainly not find out”. Revelations followed through offshore leaks, interested journalists, bought up CD-ROM’s, […]