After initially rather sluggish registration numbers, the industry was surprised that the number of approved financial system mediator clearly risen in the last few weeks. St Gallen, 04.07.2013. There are total 16.845 authorized intermediaries as of June 15, 2013, so the public statistics of the German industry and Commerce (DIHK) (to see…). 16.678 with approval according to paragraph 34 f (1) No. 1 GewO (investment funds), 4.407 subject to clause 34 f (1) Nr. 2 GewO (closed-end funds) and 1973 after paragraph 34 f (1) No. 3 GewO (other assets, such as co-operative shares, participation certificates and registered bonds).
It is assumed that this number will increase significantly, because according to the DIHK is currently a wide range of applications that can only be handled in the coming months. The Federal Ministry of economy has therefore agreed to accept an appropriate extension. This applies to all requests, all the way up to the 30. The June date for the simple application, have entered the. The permit authorities have time to consider the requests and, if necessary, to allow until the end of this year. For financial investment intermediaries, this means that they still may sell listed investments during this period without a permit in paragraph 34 f, without fear of a penalty charge notice for this purpose. Prerequisite is, of course, apply until 30 June.
Breathe is so said, because in many cases, the authorities were even overwhelmed, to make the right statements, to provide documents etc, so our information which often led to delays. While in this regard so the fog clears, the issuing houses in Germany work feverishly to meet the demands placed on them or just to change. Also here last few opening clauses were implemented and the range of offers is rather bigger. In addition to the paragraph 34 f GewO also some of them, which are (at least yet) admission free are regulated products. Just loan concepts are currently demand according to the Bundesanstalt fur Finanzdienstleistungsaufsicht (BFin), therefore also clear regulations were issued. The BFin wants to look here in the future much more clearly.