Aufsätze Ökonomik

Aufsätze Pädagogik

Aufsätze Sozialethik


Prof. Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.

Abhandlungen über Johann Heinrich Jung-Stilling

Nachtodliche Belehrungen zur Ökonomik

Nachtodliche Belehrungen zu Persönlichkeiten

Nachtodliche Belehrungen zur Philosophie

Nachtodliche Belehrungen zur Theologie

Nachtodliche Belehrungen zu verschiedenen Themen



An institution that holds and manages securities and other assets on behalf of a third party (a bank, financial institution or other entity that has the responsibility to manage the custody or other safekeeping of assets on behalf of a third party) Corresponding companies are deemed to be credit institutions pursuant to Section 1 of the German Banking Act (KWG). They therefore require a license in Germany and are subject to supervision by the Federal Financial Supervisory Authority. – In accordance with § 20 (1) and (2) InvG, only a credit institution domiciled in Germany and licensed for deposit and custody business or a branch of an institution as defined in § 53b (1) KWG may be appointed as a custodian bank. However, a branch of a credit institution within the meaning of § 53 or § 53c of the German Banking Act (KWG) may also be appointed as the custodian bank if the units of the investment fund may not be distributed in another EU member state or in another signatory state to the EEA pursuant to §§ 128 and 129 of the German Investment Act (InvG). – In detail, the German Federal Financial Supervisory Authority (BaFin) has issued a detailed leaflet on the tasks and duties of the custodian bank pursuant to Sections 20 et seq. InvG. – See Aberdepot, outsourcing, back-off area, custody account, outsourcing risks, asset manager, intermediate custodian. – Cf. BaFin Annual Report 2009, p. 176 (BaFin circular clarifies important open issues), BaFin Annual Report 2010, p. 190 (requirements listed in more detail in a BaFin circular that custodian banks had to implement by July 2011) and the respective BaFin Annual Report, chapter “Supervision of Securities Trading and Investment Business.”

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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