*by Johannes Fiala, lawyer (Munich), MBA Financial Services (Univ.Wales), MM (Univ.), certified financial and investment advisor (A.F.A.), banker (www.fiala.de) For initiators and distributors it is of crucial importance that all necessary permits are available ? including audited prospectuses. However, there are always initiators who are badly advised or not advised at all. So it comes […]
*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) Lawyers who work in sales do not get a licence: The Federal Court of Justice has (judgement of 15.05.2006, Az. Anw(Z) 41/05) currently confirms that lawyers are not […]
*by Johannes Fiala, Lawyer (Munich), Mediator (Univ.), 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) The defendant asked his lawyer how long the whole affair was likely to take. Lawyer: “For me three hours and for you three years…” Again and […]
*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 […]
*by Johannes Fiala, lawyer (Munich), MBA Financial Services (Univ.Wales), MM (Univ.), certified financial and investment advisor (A.F.A.), banker (www.fiala.de) and Dipl.-Math. Peter A. Schramm, actuary DAV (Diethardt), actuarial expert (www.pkv-gutachter.de) For initiators and distributors it is of crucial importance that all necessary permits are available ? including audited prospectuses. However, there are always initiators who […]
*by Johannes Fiala, Lawyer (Munich), MBA Financial Services (Univ.Wales), M.M. (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Banker (www.fiala.de) The insurance intermediary (agent and broker) is not insured by a property damage cover (VSH) if he intentionally or knowingly breaches his duties. What does this mean for the intermediary’s practice? Knowingly breach […]
*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) Advice, insurance and plausibility: First of all, every intermediary should be aware that his own VSH insurance does not generally cover legal and tax advice (which is permitted as an ancillary business): Such tasks should […]
*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) The financial manager Erhard Straub refers to his very good experience with DCM Deutsche betriebliche Altersvorsorge AG: In his opinion, the intermediary should also point out in the cooperation with StB, RA and WP that […]
By Ralf W. Barth, Property Damage Liability Broker (www.rwbfinanz. de) and Johannes Fiala, lawyer (www.fiala.de) Practical gaps in the intermediary’s VSH protection: A short story starts with the statement of an insurer that only the advice of the employer in the occupational pension scheme is insured in the scope of coverage ? but not the […]
by Johannes Fiala Insurance gap The experienced insurance broker will point out two common coverage gaps in the VSH conditions to his VSH client: On the one hand, the lack of coverage if the insured, in particular, “knowingly violates an order, instruction, resolution, power of attorney, or in any other way”. This can be mitigated […]
