Die Vergütung der Anlageberatung zu Kapitalanlagen

When providing investment advice, financial intermediaries have to observe a wide range of legal provisions relating to the nature and level of their financial compensation. In addition, the Bundesgerichtshof (Federal Court of Justice) has developed separate disclosure requirements. From the multiplicity of legal provisions, the Bundesgerichtshof deduces a transparency requirement for third party payments with effect from 1 August 2014. This transparency requirement may also have an effect on the investment advisory agreement.
The thesis comprehensively investigates the compensation-related obligations of investment advisors and their fundamentals and value judgements. In addition, the author describes the legal consequences of breaches of duty. The objective of protecting investors is best achieved by a civil liability for financial intermediaries.