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

Notes on the database

For the period from 1 July 2005 to 31 May 2012, the database contains the metadata of 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 VerkProspG in conjunction with the German Investment Prospectus Regulation (Vermögensanlagen-Verkaufsprospektverordnung – VermVerkProspV) and that were subsequently approved for publication by BaFin.

The metadata of prospectuses subject to examination in accordance with the VermAnlG have also been entered into the database since 1 June 2012. Following the examination, BaFin approves the prospectus as long as it is complete, comprehensible and consistent in line with the statutory requirements.

The database does not differentiate between prospectuses approved under old and new legal provisions in its list of the metadata. 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 VerkProspG. As a rule, prospectuses prepared on or after 1 June 2012 have undergone a prospectus approval procedure in accordance with the VermAnlG.

The German Act Implementing the Second Payment Services Directive (Gesetz zur Umsetzung der Zweiten Zahlungsdiensterichtlinie – PSD II UmsetzungsG) was promulgated on 21 July 2017 (see Federal Law Gazette. I no. 48 p. 2446). Article 5 of the Act entered into force on 21 August 2017 and regulates the approval process for capital investment information sheets in the VermAnlG. The database has since included the metadata of capital investment information sheets prepared in accordance with the exemption provisions under section 2a and section 2b of the VermAnlG.

Guidance on use

The database is updated daily. BaFin has compiled the information with all due care and attention. Nevertheless, no liability can be assumed for the timeliness, completeness and accuracy of the information on the metadata of prospectuses, capital investment information sheets and any supplements.
Furthermore, the inclusion of an issuer/offeror in the database provides no information on when the offeror actually launched the public offer and whether the capital investment is still being offered to the public. Particularly for capital investment information sheets, the database gives no information on whether and when the capital investment was offered to the public, since offerors are not obliged to make such announcements. The database also does not indicate whether a capital investment has already been fully repaid by the issuer and is therefore no longer subject to the provisions of the VermAnlG – particularly the shorter disclosure deadline for the required annual financial statements under section 26 of the VermAnlG.

For this reason, it cannot be assumed that the issuers listed in the database are still considered issuers within the meaning of section 1 (3) of the VermAnlG.

Issuers of capital investments are required to disclose their accounting documents to the publisher of the Federal Gazette, i.e. the Register Keeping Authority of the Company Register. If the issuer fails to do so in a timely manner or does not submit all the required documents, the publisher of the Federal Gazette will notify the Federal Office of Justice (Bundesamt für Justiz – BfJ). The BfJ will conduct the resulting disciplinary fine proceedings.

The database lists the metadata of prospectuses filed with BaFin under section 8 of the VermAnlG, supplements filed under section 11 of the VermAnlG or the VerkProspG, and capital investment information sheets filed under section 13 of the VermAnlG. For prospectuses, supplements and capital investment information sheets approved on or before 31 December 2021, the database does not make the actual filed documents available.

With regard to the content of the database, please refer to the rules specified in section 9 (3), section 13a (3) and section 14 (2) of the VermAnlG. These provisions set out retention periods and publication deadlines for prospectuses, capital investment information sheets and supplements filed with BaFin. Due to these rules, certain metadata may no longer be available.

Expansion of the database as of 1 January 2022

Since 1 January 2022, BaFin has electronically published prospectuses filed together with capital investment information sheets and any associated supplements or updates in the database in accordance with section 9 (3) and section 13a (3) of the VermAnlG. BaFin also electronically publishes the capital investment information sheets filed along with any updates in accordance with sections 2a and 2b of the VermAnlG. The documents specified above can be retrieved in the database as PDF files.

Notes on searching within the database

You can search for information on a certain prospectus, supplement or capital investment information sheet by entering the name of the issuer, offeror or internet-based services platform. You can search for an issuer, offeror or internet-based services platform 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.

If you have found the entry you were searching for, this means that BaFin has received an associated prospectus, supplement, capital investment information sheet or update and that the document has been filed in accordance with the provisions of the VermAnlG or the VerkProspG following approval of the publication. Checking the accuracy of the information provided in the prospectus, supplement or capital investment information sheet, on the other hand, is not one of the subjects of BaFin's examination. Therefore, the reliability or creditworthiness of the issuer/offeror cannot be deduced from the mere fact that a prospectus, supplement or capital investment 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 VermAnlG or the VerkProspG. The law does not provide for ongoing supervision of issuers of capital investments.

Statutory publication requirements for offerors or internet-based services platforms

BaFin’s publication of the documents does not supersede the publication requirements for offerors or internet-based services platforms. With regard to the publication requirements, please refer to sections 9 and 13a of the VermAnlG.

In addition to the above, please note the Standard Terms and Conditions of Use on the BaFin website. These Terms and Conditions can be found under “Terms and Conditions”.

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