responsibility finder
Schleswig-Holstein

Have securities prospectuses approved

Source: Zuständigkeitsfinder Schleswig-Holstein (Linie6PLus)

Service Description

Securities prospectuses provide investors with information about securities and issuers. The prospectuses help investors to make an informed investment decision. In Germany, these prospectuses are generally mandatory by law. However, there are exceptions where the prospectus requirement does not apply.

If a prospectus is required for your security, you must publish the associated prospectus before the security is offered to the public or admitted to trading on a regulated market. The prospectus must contain minimum legal information as defined by the EU Prospectus Regulation. In addition, the prospectus must be approved by the German Federal Financial Supervisory Authority (BaFin) prior to publication.

BaFin checks whether the prospectus meets the legal requirements. It is important that it contains complete, comprehensible and consistent information about the security. BaFin does not, however, assess the seriousness of your offer.

You can submit the prospectus for examination exclusively via BaFin's reporting and publication platform (MVP).


Process flow

You can submit the endorsement application online:

  • Log in to the MVP portal with your credentials.
  • If you do not have access yet: Register on the MVP Portal first.
  • 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 section "Fachverfahren" ("Apply for specialized procedure").
  • Select "Submit notification" and complete the online application.
  • After activation, upload the approvable prospectus and the other required documents in a ZIP file.
  • Submit 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.
  • You will only receive a confirmation of receipt from BaFin after the documents have been successfully transmitted.

If the documents are complete and the securities prospectus meets the legal requirements, you will receive a notification of approval from BaFin. If the prospectus does not meet the requirements or the documents are incomplete, BaFin will inform you. You then have the opportunity to correct the deficiencies.

Requirements

The content and form of the prospectus must comply with the legal requirements.

Which documents are required?
  • Cover letter including application
  • Cross checklists
  • Draft prospectus
  • Power of attorney, if applicable
What are the fees?

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

Processing duration
  • BaFin will notify you within 10 working days whether or not the securities prospectus has been approved. This deadline applies from the time when BaFin has received all documents in full.
  • The deadline is extended to 20 working days if the securities have not yet been admitted to trading and you have not previously offered any securities to the public.
Legal basis
Appeal

Opposition

Applications / forms

Forms available: No

Written form required: No

Informal application possible: No

Personal appearance required: No

Author
Technically approved by

Federal Ministry of Finance (BMF)

Process flow

You can submit the endorsement application online:

  • Log in to the MVP portal with your credentials.
  • If you do not have access yet: Register on the MVP Portal first.
  • 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 section "Fachverfahren" ("Apply for specialized procedure").
  • Select "Submit notification" and complete the online application.
  • After activation, upload the approvable prospectus and the other required documents in a ZIP file.
  • Submit 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.
  • You will only receive a confirmation of receipt from BaFin after the documents have been successfully transmitted.

If the documents are complete and the securities prospectus meets the legal requirements, you will receive a notification of approval from BaFin. If the prospectus does not meet the requirements or the documents are incomplete, BaFin will inform you. You then have the opportunity to correct the deficiencies.

Requirements

The content and form of the prospectus must comply with the legal requirements.

Which documents are required?

  • Cover letter including application
  • Cross checklists
  • Draft prospectus
  • Power of attorney, if applicable

What are the fees?

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

Processing duration

  • BaFin will notify you within 10 working days whether or not the securities prospectus has been approved. This deadline applies from the time when BaFin has received all documents in full.
  • The deadline is extended to 20 working days if the securities have not yet been admitted to trading and you have not previously offered any securities to the public.

Legal basis

Appeal

Opposition

Applications / forms

Forms available: No

Written form required: No

Informal application possible: No

Personal appearance required: No

Author

Technically approved by

Federal Ministry of Finance (BMF)

Further information and offers