(1) The Federal Institute is empowered to take all necessary and appropriate measures to protect investors, including a prohibition of the marketing of units or shares in EU UCITS, where
1. the manner of marketing infringes other provisions of German law,
2. the duties under section 306a or section 309 are not, or are no longer, satisfied,
3. marketing continues after the date of revocation contrary to a notification of revocation of marketing under section 295a(5), first sentence, or the duties under section 295b(1) are not complied with.
(2) Where the Federal Institute has sufficient grounds to believe that an EU UCITS management company or UCITS capital management company marketing units or shares in EU UCITS within the scope of this Act is infringing provisions of this Act, and the Federal Institute has no powers under subsection (1), it communicates its findings to the competent authorities of the EU UCITS's home Member State and requests them to take appropriate measures.
(3) Where infringements of provisions of this Act are not brought to an end by the measures of the competent authorities of the EU UCITS's home Member State, or where these measures prove inappropriate or inadequate, the Federal Institute is empowered,
1. after informing the competent authorities of the EU UCITS's home Member State, in the course of its supervision and monitoring of the provisions of Division 1, Subdivision 1, and Division 2, Subdivision 1, of this Chapter, to take all necessary and appropriate measures to protect investors, including a prohibition of the further marketing of units or shares in EU UCITS,
2. to request assistance from the European Securities and Markets Authority under Article 19 of Regulation (EU) No 1095/2010. Measures under the first sentence, points 1 and 2, must also be taken where the EU UCITS's home Member State does not take measures within a reasonable period and the EU UCITS management company or the UCITS capital management company marketing units or shares in this EU UCITS within the scope of this Act therefore continues to act in a manner clearly contrary to the interests of investors within the scope of this Act. The European Commission and the European Securities and Markets Authority must be informed without delay of every measure taken under the first sentence, point 1.
(4) The Federal Institute communicates the prohibition of marketing to the competent authorities of the EU UCITS's home Member State. Where the home Member State of this EU UCITS is different from the home Member State of the managing EU UCITS management company, the Federal Institute also communicates the prohibition to the competent authorities of the home Member State of the EU UCITS management company. It publishes the prohibition in the Federal Gazette where marketing has taken place. Where costs are incurred by the Federal Institute as a result of the publication under the second sentence, these must be reimbursed to the Federal Institute by the EU UCITS management company or the UCITS capital management company.
Subdivision 2
Notification Procedure for the Marketing of Domestic UCITS in Other Member States of the European Union or in States Party to the Agreement on the European Economic Area