Veröffentlichung von Vermögensanlagen-Informationsblättern (inkl. Wiedereinreichungen) Gestattung

Section 13 VermAnlG

Before you publish an asset information sheet (VIB) in accordance with §§ 2a, b,13 VermAnlG, the publication must be permitted by BaFin.

The VIB pursuant to sections 2a, b, 13 of the German Investment Act (VermAnlG) enables investors to obtain information about the investment product and the issuer prior to purchase. In Germany, it is legally mandatory to file an associated VIB pursuant to sections 2a, b, 13 VermAnlG with BaFin for certain types of asset investments and to subsequently publish it. The sales prospectuses are intended to help investors make an informed investment decision.

You may not offer new investments to the public until you have prepared a VIB for them in accordance with sections 2a, b, 13 VermAnlG. The Federal Financial Supervisory Authority (BaFin) must first approve its publication. 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 have its publication approved in advance by BaFin if

• your public offering is subject to the prospectus requirement (in this case, you submit the VIB as part of the application for approval and filing of the asset sales prospectus), or
• your public offering 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 complies with the legal requirements set out in the VermAnlG in accordance with sections 2a, b, 13 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 serious or whether the contents of the VIB pursuant to §§ 2a, b, 13 VermAnlG are true.
You can submit the VIB pursuant to §§ 2a, b, 13 VermAnlG to BaFin for review and filing exclusively via BaFin's reporting and publication platform (MVP).

Please submit the following documents for the permit and escrow process:

• Cover letter (template available online)
• Authorization of a (legal) representative, if applicable
• Cross-check list for VIB (available online)
• Investment information sheet according to §§ 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 also refer to the BaFin website for more information.

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

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

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

If your intended public offering is subject to the prospectus requirement, submit the VIB to the prospectus as part of the prospectus approval and filing process.

If your offering is exempt from the prospectus requirement, please proceed as follows:

• Submit the VIB to BaFin for review and filing in accordance with sections 2a, b, 13 VermAnlG exclusively via BaFin's reporting and publication platform (MVP).
• To do so, log in to the MVP with your access data.
• If you do not have access yet: 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 have not yet registered, you can do so in the "Specialized procedure" section ("Apply for specialized procedure").
• Select "Submit notification" and complete the online application.
• Once the application has been activated, upload the VIB for approval in accordance with sections 2a, b, 13 VermAnlG and the other required documents in a ZIP file.
• Transmit all documents exclusively via MVP.
• Always check whether the transmission was successful in the menu item "View protocol". Only then can the transmission be considered successful. Only after the documents have been successfully transmitted will you receive confirmation of receipt from BaFin.
• If the documents are complete and the VIB complies with the legal requirements according to §§ 2a, b, 13 VermAnlG, you will receive a notification from BaFin about the approval and filing of the VIB.
• In case of an update of a VIB according to §§ 2a, b, 13 VermAnlG you will receive a confirmation of receipt, only then the update may be published.
• If the submitted document does not meet the requirements, BaFin will inform you by means of a letter. You then have the opportunity to correct the identified deficiencies.

• You are required to publish the VIB on an Internet service platform in accordance with sections 2a, b, 13 VermAnlG at least 1 working day before the public offering. The permit and deposit procedure must be completed prior to publication of the VIB pursuant to sections 2a, b, 13 VermAnlG.
• If your application documents are incomplete, BaFin will inform you as a rule
  • within 5 working days after receipt of the VIB pursuant to sections 2a, b, 13 VermAnlG (i.e. in the case of offers not subject to the prospectus requirement) and
  • within 10 working days after receipt of the VIB relating to the prospectus (i.e. in the case of offers that are subject to the prospectus requirement).

• Opposition

• Publication of asset information sheets (incl. resubmissions) Permission
• Asset management information sheets pursuant to §§ 2a, b, 13 VermAnlG (VIB pursuant to §§ 2a, b, 13 VermAnlG) must be approved by BaFin prior to publication.
• VIBs pursuant to §§ 2a, b, 13 VermAnlG are permitted if they comply with the legal requirements pursuant to the VermAnlG.
• there is a check for completeness and compliance with the legally prescribed order; an assessment of the seriousness or truthfulness of the intended public offers does not take place in this context
• asset investments for which a so-called blind pool model is envisaged are not admitted to public offering in Germany
• if, during the period of the public offer, material changes have occurred in the information contained in the VIB pursuant to §§ 2a, b, 13 VermAnlG, this results in the obligation to file an update of the VIB pursuant to §§ 2a, b, 13 VermAnlG
• an updated VIB in accordance with §§ 2a, b,13 VermAnlG is merely filed; you will receive an acknowledgement of receipt as proof of this only then may the update of the VIB in accordance with §§ 2a, b,13 VermAnlG be published; publication of the VIB in accordance with §§ 2a, b,13 VermAnlG is therefore not permitted here
• the obligation to publish VIBs pursuant to §§ 2a, b,13 VermAnlG applies to:
  • public offers that are subject to the prospectus requirement (in this case, the submission is made in the procedure for the approval of asset sales prospectuses) and
  • public offerings that are exempt from the prospectus requirement (crowd funding, social projects; §§ 2a, b,13 VermAnlG)
• the application for approval and filing of a VIB pursuant to Sections 2a, b,13 VermAnlG and all related documents may be submitted for review exclusively via BaFin's Reporting and Publication Platform (MVP); the same applies to any updates to the VIB pursuant to Sections 2a, b,13 VermAnlG
• Responsible: Federal Financial Supervisory Authority (BaFin) - Department WA 54

Forms available: No

Written form required: No

Informal application possible: No

Personal appearance required: No