Search results for: Risk assessment

From prospectus liability to distribution liability – aspects of economic risks in distribution, in particular for closed-end investments, leveraged annuities, life insurances in connection with loans, off-market shares, pp. Loans, off-market and pre-market shares, pp.

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A. Intermediary liability goes further than prospectus liability: Indispensable for a financial advisor is the certainty that – a complete initiator performance record is available, and – a complete prospectus audited without objections. Already here the financial advisor is often dependent on experts, because numerous auditor prospectus audit reports are for their part incomplete or […]

Risks associated with the investment and management of third-party funds

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by Johannes Fiala, Lawyer (Munich), M.B.A. (Univ.Wales), M.M. (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Banker (www.fiala.de) On the duties of a lawyer and tax adviser in the management of third-party assets – in particular in the investment of wards’ money – in escrow or trust accounts Due to faulty investment advice […]

Professional liability insurance for doctors and dentists

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– LegalLegal regulation of medical liability through the Patients’ Rights Act (PatRG) since 26.02.2013 –   Up to more than 170,000 medical malpractice cases – without compulsory insurance? Experts estimate that there are up to more than 170,000 medical malpractice cases per year. Until the PatRG came into force, there was only case law on […]

Are you really well advised?

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When it comes to a >g id=”gid_0″>successful retirement provision, insurance agents or brokers are usually the first people to contact. In some cases a complete reversal of the contract is possible.   The OLG Saarbrücken (judgement of 26.02.2014, file no. 5 U 64/13) decided that the insurance broker has to point out the differences between […]

No protection against malicious actions

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– How FIFA, Microsoft, WPs, BP and the Mafia are sued under the same law – VW is – hopefully – not a criminal organization, just like Microsoft, BP, the FIFA or auditors (WPs) of Russian companies. Surely VW only admitted the objective circumstances in a legally preventive way, or rather admitted something of which […]

Rürup pension: Frequent false advice from brokers

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– When incomplete advice enables the complete reversal – The OLG Saarbrücken (judgement of 26.02.2014, file no. 5 U 64/13) decided that the insurance broker has to point out the differences between the Rürup or basic pension and other models of a flexible private pension (already: OLG Stuttgart, in: VersR 2007, 1069). For example, information […]

Framework contracts in professional liability insurance

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Laws and professional codes of conduct require many professions to take out liability insurance for financial loss, but also sometimes for personal injury and damage to property. The content and scope of the minimum insurance is regulated differently depending on the profession. If a GmbH provides tax advice, financial losses amounting to € 250,000 must […]

Questionable damage – highly questionable fraud?

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How FIFA, Microsoft, WPs, BP and the Mafia are sued under the same law and pilloried through American glasses, Dr. Johannes Fiala and Dipl.-Math. Peter A. Schramm explain in a multi-part article. The first part was about the “Racketeer Influenced and Corrupt Organizations Act”, a US federal law that makes this kind of jurisdiction possible. […]

The additional remuneration agreement may be revoked

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What compensation does the customer owe in the event of premature cancellation of his insurance premiums? The German Federal Supreme Court (BGH, ruling of 12 December 2013, file no. III ZR 124/13) decided that not only a broker but also an insurance agent can be promised a remuneration by his customer for brokering a life […]

Commission-free net policies: The additional remuneration agreement can be revoked

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The German Federal Supreme Court (BGH, ruling of 12 December 2013, file no. III ZR 124/13) decided that not only a broker but also an insurance agent can be promised a remuneration by his customer for brokering a life insurance policy with a net policy. Capital investors and medium-sized companies are increasingly taking advantage of […]