Settlement authorized person

Generally, a stockbroker. – Price broker. – Credit institutions and financial services institutions authorized to trade on the stock exchange in Germany. Since 2002, lead broker companies – and now no longer the persons entrusted by them with price fixing: the price brokers – have been subject to special statutory regulations. The lead broker company must guarantee the duties to be personally observed by the employees, such as above all impartiality in price fixing. Corresponding service contract regulations are required and are monitored by the supervisory authorities; cf. § 26, § 27 BörsG. A separate “Lead Broker Monthly Disclosure Ordinance” prescribes in detail which items are to be reported to the Federal Financial Supervisory Authority. – See Börsenmakler, Börsianer, Handel, amtlicher, Kursmakler, Sensal, Skontro. – Cf. BaFin’s Annual Report 2009, p. 167 f. (special audits of lead brokers on suspicion of price manipulation: significant deficiencies were uncovered) as well as the respective BaFin Annual Report, chapter “Supervision of Banks, Financial Service Providers and Payment Institutions.”

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/