Investment suggestion
In general, the suggestion to private investors to (not) invest in certain securities. If this is done publicly and on a businesslike basis, it constitutes investment advice requiring a license in Germany. – In particular, buying and selling suggestions in publications issued by banks, which are usually issued by in-house (central) specialist departments (Research Department). – In principle, a healthy distrust is appropriate towards such recommendations. This is because there is understandably a tendency to serve primarily the self-interest of the bank (selfinterest of the bank: the bank’s own trading position). – See investment advice, investment boundary, analysis, technical, analyst, analyst rating, advice, complaint clustering, blog, stock market letters, Chinese Wall, compliance, steam room, deuteroscopy, misadvice, Fibonacci sequence, financial advisor, secret tip, founding swindle, investment firm, investment research, market abuse guideline, employee guideline, employee register, evidence makery, Twitter, consumer complaints, wall crossing, securities analysis. – Cf. 2001 Annual Report of the Federal Supervisory Office for Securities Trading, p. 7, 2003 Annual Report of BaFin, p. 35 (internationally applicable principles relating to recommendations), p. 112 f. (dissemination of recommendations via the media), 2004 Annual Report of BaFin, p. 124 f. (monitoring of rules of conduct; audits for this purpose), p. 126 (more detailed requirements imposed by the Investor Protection Improvement Act), BaFin Annual Report 2005, p. 199 (a customer signature is not required by supervisory law),BaFin Annual Report 2011, p. 138 f. (in addition to investment advisors, sales representatives of the institutions must also demonstrate expertise and reliability; the WpHG Employee Notification Ordinance [WpHGMaAnzV] came into force at the end of 2011: employee register must be filed with BaFin) and the respective BaFin annual report.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/