Liability trap: occupational pension reinsurance with closed participations

*by Dr. 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 in Civil and Insurance Law (Univ. of Cooperative Education), Banker (www.fiala.de) What some people pretend to themselves, that no one imitates them so quickly. (Gerd Uhlenbrock) Both in the company pension […]

Kick-backs and MiFID: Billions in liability for banks, intermediaries, asset managers

  “You only get rich by doing things you don’t desire.” (Mahatma Gandhi, Indian politician, 1869 – 1948)   Increasing dangers due to kick-backs After Switzerland, the topic of kick-backs is now also increasingly leading to legal proceedings in Germany if a customer feels cheated by his financial service provider or financial services institution. The […]

The VAT trap of the intermediary

Not a carefree package from the legislature: Several heads of financial services associations have taken the lawmakers’ delays by the change of government in their stride. Proudly it is announced that by a new BMF letter of 25.11.2005 the situation was defused up to beyond 01.01.2006. Associations tell a lot when the day is long. […]