Regulatory Authorities

Insurance Brokers and Consultants (Versicherungsvermittler/-berater)

The Chambers of Industry and Commerce (Industrie- und Handelskammern) are responsible for granting, withdrawing and revoking permits in all federal states. The responsibility for prosecuting offences, as well as conducting proceedings relating to barring brokers and advisors from practising, has in most cases been left under direct management of the state (Unmittelbare Staatsverwaltung).

An overview of the regulatory authorities can be found here (in German).

Investment Brokers and Paid Investment Advisors (Finanzanlagenvermittler und Honorar-Finanzanlagenberater)

In contrast to the law governing insurance intermediaries, the federal legislator has not made any provision regarding the granting of permits for investment brokers (Finanzanlagenvermittler) and paid investment consultants (Honorar-Finanzanlagenberater) under § 34f or § 34h GewO. The decision has been left to the state legislators.

The authorities that have been declared by the federal states as responsible for the granting of permits are detailed in this list (German only).

Mortgage Brokers (Immobiliardarlehensvermittler)

In contrast to the law governing insurance intermediaries, the federal legislator has not made any provision regarding the granting of permits for mortgage brokers (Immobiliardarlehensvermittler) under § 34i GewO. The decision has been left to the state legislators.

The authorities that have been declared by the federal states as responsible for the granting of permits are detailed in this list (German only).

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