Fondsdepot Bank has the option of providing a liability umbrella for financial companies domiciled in Germany that do not conduct banking business within the meaning of section 1 (1) sentence 2 of the German Banking Act (KWG).
A contractually-bound intermediary under a liability umbrella
- does not require a BaFin licence for his activity as an investment intermediary or advisor, even if he carries out activities requiring a licence under the KWG or GewO, and
- does not have to submit audit reports according to Section 24 of the German Financial Investment Brokerage Ordinance (FinVermV).
We would be delighted to present our offer to you explicitly in a personal meeting.