In the case of banks, the explicit recommendation (exciplit recommendation) to the customer to undertake or refrain from certain transactions. – However, an advisory relationship is only established by a civil law contract concluded specifically for this purpose. Casual statements made by a person in charge (staffer) of a bank or in publications of an institution are hardly legally contestable. – See investment advice, investment recommendation, duty to keep records, quality of advice, accumulation of complaints, steam room, misadvice, financial analysis ordinance, fee-based advisor, employee register, evidence makery, risk-return principle, super profit. – See BaFin 2004 Annual Report, p. 79, BaFin 2005 Annual Report, p. 199 (a client signature is not required by regulatory law), BaFin 2012 Annual Report, p. 164 (BaFin urges improvements in advisory protocols).
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