Erscheinung:05.09.2018 | Topic Unauthorised business BaFin orders Rothmann & Ginst to cease unauthorised investment broking and investment advice activities
On 3 September 2018, BaFin ordered Rothmann & Ginst to cease its investment broking and investment advice activities. The company’s offices are allegedly located in Luxembourg, London and New York.
The company operates the website www.rothmann-ginst.com, cold-calls German investors and offers to sell them specific financial instruments, such as shares. In addition, it advertises a range of services from tailored investment advice to customised strategies.
Anyone wishing to provide financial services in Germany commercially or on a scale which requires commercially organised business operations needs prior written authorisation from BaFin in accordance with section 32 (1) of the German Banking Act (Kreditwesengesetz – KWG). The company does not have such an authorisation.
The order is immediately enforceable but not yet final.
