Federal Ministry Financial

Proposal for the amendment of the financial system mediator right a double-edged sword? Gottingen, February 21, 2011 – the Federal Ministry of Economics and technology and the Federal Ministry of finance have put forward the announced draft of law on the amendment of the financial investment intermediaries and investment law on February 17, 2011. With the law, gaps in hitherto little-regulated product areas such as closed funds shall be eliminated to ensure a uniformly high level of protection especially for private investors. In the distribution of financial products, the same rules of the game thus apply to banks and free agent. The new rules of the investors strengthen legislation is now also for so-called assets”such as closed-end funds, silent partnerships and participatory rights provided by product information sheet to the introduction, provide essential information about risks, capital earnings Outlook and costs the investors. In addition are the applicable only to banks information, consulting and documentation requirements of the German Securities Trading Act are extended to the commercial financial investment intermediaries. “This means that they need to create in future consultation protocols, leaflet” hand and disclose their commissions.

Also, the supervision of the financial system mediator will be strengthened. For all products, which belong to the assets, classified in the future – as have stocks and bonds – as financial instruments, so that a permission of the Federal Agency for financial services supervision (BFin) is required for their mediation in the future. This should be unnecessary if only assets are conveyed. Then, the labour inspectorate takes over the monitoring of intermediaries. Increased requirements for commercial financial intermediaries will be introduced with the new law. In the future, a certificate of competence is required, which is to provide through a competence test, and is a professional indemnity insurance to complete.

The transitional period for already active intermediary is be twelve months. According to Matthias Gundel, Managing Director of the firm GK-law.de, specialising in capital markets law, the devil is in the different supervisory arrangements, as always in detail. Because if also investment funds are taught by intermediaries – as usual – in addition to assets, no exclusivity of a certain product group is more according to the current state of legislation. The mediators are subject to no longer the Labour Inspectorate, but banking supervision. For the investor, but this won’t make any difference because in the future the consulting and documentation requirements of the securities trading Act apply to all products. The mediator would have to decide, however, for the one or the other product group so Gundel next, to go significantly beyond the requirements of the Labour Inspectorate duties one below intermediary banking supervision from the start out of the way. The extension of the Labour Inspectorate for financial investment intermediaries, celebrated as a victory by the industry participants could thus as a boomerang for the product providers turn out.

BAV Febs

According to the financial management, a pension commitment is as uniform asset advantage to see that his were not in one and his do not serve a part can be broken down. (Source: JPMorgan Chase). “It is now common practice, annoying pension commitments with regard to H his served 40 KStR to freeze part, again reduced to justified cases” thinks febs-chef Buttler and refers to the appropriate service of the febs. At the fixed price of 890 euro, a so-called mitigation advice with detailed arguments against adopting a concealed deposit supplies febs, unless there is sufficient evidence for this in the company. The opinion among other things also serves as a basis for a binding request to the competent tax office, which will probably recommend is most definitely. Current action of the febs’s experts recommend an immediate review of all pension plans and pension funds to uncover all other fiscal risks in existing commitments in addition to the above mentioned flow problem and as far as possible to eliminate. Necessary changes to existing pension promises should be made as far as possible in 2010.

As from 31 December 2010, the new accounting regulations of the BilMoG for pension provisions, which will lead to extraordinary changes of in provisions already access for the first time. More current management instructions and we treat jurisdictions in the febs practice seminars current challenges 2010″on February 25, 2010, BAV advanced” on the 15th / 16.03.2010. For more information about our seminars, see seminars. Your contact of febs Consulting GmbH in the high field 3 85630 Grasbrunn/Munich of Andreas Buttler CEO Tel. 089 / 890 42 86-10 as we employers in all questions relating to pension and TimeValue accounts consult independent experts. We analyze and refurbish existing power plants, create actuarial opinion of balance of and assist employers in the implementation of the new Supply balance.

It Examines The Financial Administration – Over The Course Of A Tax Audit

Steuerberater Gunter Zielinski from Hamburg informed the tax audit represents one of the most important events on the relationship of the entrepreneur to the tax office. Often an anxious feeling before. All tax-relevant data are correct and the accounting has been, implemented properly but nothing to worry about. Also the examination is arranged in time, allowing sufficient time for the preparation to the available. How does a tax audit, explains the tax advisor Gunter Zielinski from Hamburg. How of auditor performs the tax tax audit announced by the IRS normally within the company.

There is no way to do this, is dodged to the apartment/house of the entrepreneur or the IRS provides the spatial. Before the exam begins the tester proves itself and submit the request. The company is visited shortly after and an introductory conversation takes place. Jim Umpleby is often quoted on this topic. The implementation of the tax audit aims all tax-relevant facts of the company to shed light. This all business records must be the investigator, which are in connection with the examination. Still, the entrepreneur must join by answering questions. In addition, he is obliged to provide the data the Auditors also electronically.

Finally, a conversation takes place. In this final meeting, the investigator submits his findings to changes in the tax assessment and these findings are discussed in detail then. A written report on the audit is given to the conclusion of the audit. This report is the basis for the amended tax assessments provided to the contractor after the test. For detailed information about the tax audit, the tax advisor Gunter Zielinski from Hamburg anytime becomes available. Press contact contact person: Gunter Zielinski – Steuerberater Rolfinckstrasse 37 22391 Hamburg Tel: + 49 (0) 40 / 536 40-10 Fax: + 49 (0) 40 / 536 40-121 E-Mail: Homepage: