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Permission to publish investment information sheets

Service Description

The VIB in accordance with Sections 2a, b, 13 of the German Investment Act (VermAnlG) enables investors to obtain information about the investment product and the issuer before making a purchase. In Germany, it is mandatory by law to file an associated VIB with BaFin for certain types of investments in accordance with Sections 2a, b, 13 VermAnlG and then publish it. The sales prospectuses are intended to help investors make an informed investment decision.

You may only offer new investments to the public once you have prepared a VIB in accordance with Sections 2a, b, 13 VermAnlG. The Federal Financial Supervisory Authority (BaFin) must approve its publication in advance. There are statutory minimum requirements for the minimum content and structure, which are set out in the VermAnlG.

You are obliged to publish a VIB and obtain prior approval for its publication from BaFin if

  • your public offer is subject to the prospectus requirement (in this case, you submit the VIB as part of the application for approval and filing of the investment prospectus), or
  • your public offer is exempt from the statutory prospectus requirement (in the case of crowdfunding or social projects pursuant to Sections 2a, b, 13 VermAnlG).

BaFin checks whether the VIB in accordance with Sections 2a, b, 13 VermAnlG complies with the legal requirements set out in the VermAnlG. In particular, it is important that it contains complete and easily understandable information about the investment product. However, BaFin does not assess whether the offer is reputable or whether the contents of the VIB in accordance with Sections 2a, b, 13 VermAnlG are true.
You can submit the VIB pursuant to Sections 2a, b, 13 VermAnlG to BaFin for review and filing exclusively via BaFin's notification and publication platform (MVP).

Process flow

If your intended public offer is subject to the prospectus requirement, please submit the VIB for the sales prospectus as part of the approval and filing procedure for the sales prospectus.

If your offer is exempt from the obligation to publish a prospectus, please proceed as follows:

  • Submit the VIB in accordance with Sections 2a, b, 13 VermAnlG to BaFin for review and filing exclusively via BaFin's notification and publication platform (MVP).
  • To do this, log in to the MVP with your access data.
  • If you do not yet have access: First register on the MVP.
  • Select the specialist procedure "Prospectuses (VO/WpPG/VermAnlG)".
  • Please note that you must be registered for the specialist procedure. If you are not yet registered, you can do so in the "Specialist procedure" section ("Apply for specialist procedure").
  • Select "Submit notification" and complete the online application.
  • After activation, upload the VIB eligible for approval in accordance with Sections 2a, b, 13 VermAnlG and the other required documents in a ZIP file.
  • Submit all documents exclusively via the MVP.
  • Always check whether the transmission was successful in the "View log" menu item. Only then can the transmission be considered successful. You will only receive confirmation of receipt from BaFin once the documents have been successfully submitted.
  • If the documents are complete and the VIB in accordance with Sections 2a, b, 13 VermAnlG meets the legal requirements, you will receive notification from BaFin that the VIB has been approved and deposited.
  • If a VIB is updated in accordance with Sections 2a, b, 13 VermAnlG, you will receive confirmation of receipt; only then may the update be published.
  • If the submitted document does not meet the requirements, BaFin will inform you by letter. You then have the opportunity to correct the identified deficiencies.

Requirements

The VIB pursuant to Sections 2a, b, 13 VermAnlG must comply with the legal requirements of the VermAnlG in terms of content and form.

Which documents are required?

Please submit the following documents for the licensing and filing procedure:

  • Cover letter (template available online)
  • Authorization of a (legal) representative, if applicable
  • Crossover checklist for VIB (available online)
  • Investment information sheet in accordance with Sections 2a, b, 13 VermAnlG

If you submit the VIB together with a sales prospectus, the provisions of the application procedure for filing a sales prospectus apply to you. This means that you must submit additional documents. Please refer to the BaFin website for more information.

If you are an issuer domiciled abroad, you must also submit a power of attorney for an authorized person domiciled in Germany in accordance with Section 5 VermAnlG.

What are the fees?

Fees are charged in accordance with the Financial Services Supervision Fees Ordinance (FinDAGebV).

What deadlines do I have to pay attention to?

  • You are obliged to publish the VIB in accordance with Sections 2a, b, 13 VermAnlG on an Internet service platform at least 1 working day before the public offer. The approval and filing procedure must be completed before the VIB is published in accordance with Sections 2a, b, 13 VermAnlG.
  • If your application documents are incomplete, BaFin will generally inform you
    • within 5 working days of receipt of the VIB pursuant to Sections 2a, b, 13 VermAnlG (i.e. for offers that are not subject to the prospectus requirement) and
    • within 10 working days of receipt of the VIB for the sales prospectus (for offers subject to the prospectus requirement)

Processing duration

Processing Time: 5 - 10 Days
This processing time applies if you are exempt from the prospectus requirement and only submit the VIB in accordance with §§ 2a, b, 13 VermAnlG.

Processing Time: 10 - 20 Days
This processing time applies if your offer is subject to the prospectus requirement and you submit the VIB in the application procedure for approval and filing of the sales prospectus.

Legal basis

Applications / forms

  • Contradiction

Appeal

Forms available: No

Written form required: No

Informal application possible: No

Personal appearance necessary: No

Further Information

Author

German Federal Financial Supervisory Authority (BaFin)


Forwarding service: Deep link to the original portal

The text was automatically translated based on the German content.

Technically approved by

Federal Ministry of Finance (BMF)

Professionally released on

10.05.2022

Source: Zuständigkeitsfinder Thüringen (Linie6PLus)

Start your request directly online:

Competent Authority

Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), MVP-Antragsverfahren

Address
Marie-Curie-Str. 24 - 28
60439 Frankfurt am Main
E-Mail
Contact us
Remark: for technical questions about the MVP Portal
WWW
Federal Financial Supervisory Authority (BaFin)
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Contact form
Opening times

No public traffic is planned.

Further Authorities

Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Referat WA 54
Address
Marie-Curie-Straße 24-28
60439 Frankfurt am Main
Telephone
+49 228 41080
Fax
+49 228 410863110
Remark: For the submission of applications.
E-Mail
Contact us
E-Mail
Contact us
Remark: For technical questions in the ongoing process.
WWW
Federal Financial Supervisory Authority (BaFin)