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Investment prospectuses and capital investments information sheets filed

The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has compiled a database on the basis of investment prospectuses filed since 1 July 2005 and capital investments information sheets filed since 21 August 2017.

Before you move on to the database of investment prospectuses and capital investments information sheets filed, please take the time to read the explanatory notes below.

Notes on the database

Investment prospectuses that were examined in accordance with the German Prospectus Act (Verkaufsprospektgesetz – VerkProspG) in order to determine whether they meet the (minimum) requirements of the German Prospectus Act in conjunction with the German Investment Prospectus Regulation (Vermögensanlagen-Verkaufsprospektverordnung – VermVerkProspV) were entered into the database from 1 July 2005 to 31 May 2012.
BaFin granted permission to publish the prospectuses after they had been examined.

Investment prospectuses that must be examined in accordance with the German Capital Investment Act (Vermögensanlagengesetz – VermAnlG) have also been entered into the database since 1 June 2012. The completeness check used to determine whether the (minimum) requirements of the German Capital Investment Act in conjunction with the German Investment Prospectus Regulation are met also includes a comprehensibility and consistency check. BaFin approves such prospectuses after they have been examined.

The database makes no distinction between the old and the new legal situations in the case of investment prospectuses. However, the preparation date of the prospectus can be used as a reference. If a prospectus was prepared before 1 June 2012, it can be assumed that the prospectus was subject to a prospectus approval procedure in accordance with the German Prospectus Act. As a rule, prospectuses prepared on or after 1 June 2012 are likely to have been subject to a prospectus approval procedure in accordance with the German Capital Investment Act.

Furthermore, approval or permission to publish the prospectus does not reveal any information on whether the offerors and/or issuers of the capital investments in question require or have obtained authorisation under section 32 (1) of the German Banking Act (Kreditwesengesetz – KWG). Further information in this regard may be found under "Search companies".

The German Act Implementing the Second Payment Services Directive (Gesetz zur Umsetzung der Zweiten Zahlungsdiensterichtlinie) was promulgated on 21 July 2017 (cf. Federal Law Gazette. I no. 48, p. 2446). Article 5 of the Act entered into force on 21 August 2017 and regulates the procedure for granting permission in the German Capital Investment Act in addition to new content requirements for capital investments information sheets. Capital investments information sheets submitted in addition to a prospectus or prepared in accordance with the exemption provisions under section 2a and section 2b of the German Capital Investment Act have since been listed in the database, together with any updates.

Guidance on use

The database is updated on a daily basis. BaFin has compiled the information with all due care and attention. However, no liability can be assumed for how up-to-date, complete and accurate the information on the investment prospectuses and capital investments information sheets is. This also applies to any supplements or updates.

The database lists (in)complete investment prospectuses and supplements pursuant to sections 10 and 11 of the German Capital Investment Act and the German Prospectus Act and information on their publication. In addition, the database also lists capital investments information sheets and updates pursuant to section 13 of the German Capital Investment Act.

You can search for a particular prospectus or capital investments information sheet by using the name of the issuer or offeror. You can also search for investment prospectuses using the German securities identification number (Wertpapierkennnummer – WKN) or International Security Identification Number (ISIN) if available. In addition, you can search for issuers or offerors either by entering their full name in the search field or by entering the first letter or multiple letters of their name. You can also click on the initial letter below the search field. The WKN/ISIN can also be entered in full or with only some of the first few digits.

If you have found the investment you were searching for, this means that BaFin has been sent an investment prospectus or a capital investments information sheet for it and that the prospectus or capital investments information sheet was published in accordance with the provisions of the German Capital Investment Act or the German Prospectus Act after approval or permission for publication had been granted. Checking the accuracy of the information provided in the prospectus/capital investments information sheet, on the other hand, is not part of BaFin's examination. Therefore, the reliability or creditworthiness of the issuer cannot be deduced from the mere fact that a prospectus/capital investments information sheet has been submitted to BaFin and been published after successfully completing the approval procedure at BaFin in accordance with the provisions of the German Prospectus Act or the German Capital Investment Act.

Prospectuses can be obtained from the paying agent; in most cases, this is the issuer or the offeror. Capital investments information sheets are publicly available on the website of the online service platform and the website of the offeror.

You can also contact the competent BaFin division (WA 54) if you have any questions regarding the obligation to publish investment prospectuses and the exemption provisions under section 2a and section 2b of the German Capital Investment Act.

In addition to the above, please note the Standard Terms and Conditions of Use on BaFin's website. These Terms and Conditions can be found under "Imprint – Terms and Conditions".

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