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Section 12

Advertising for asset investments

(1) The offeror must ensure that advertising for publicly offered asset investments that refers to the essential characteristics of the asset investment includes a reference to the sales prospectus and its publication.
(2) The offeror must ensure that advertising for publicly offered asset investments includes the following, clearly prominent, warning notice: "The acquisition of this asset investment involves significant risks and may lead to the complete loss of the capital invested." In the case of advertising in electronic media using exclusively text characters, the notice may be given in a separate document where the advertisement 1. comprises fewer than 210 characters, and 2. contains a clearly prominent link to that document, labelled "Warning notice".
(3) The offeror must ensure that advertising for publicly offered asset investments that contains a statement about a return on the asset investment, other than one merely reproducing a contractually fixed rate of interest on the asset investment, includes the following, clearly prominent, notice: "The prospective return is not guaranteed and may also turn out lower."
(4) Advertising for publicly offered asset investments may not contain any reference to BaFin's powers under this Act.
(5) Advertising for publicly offered asset investments may not use the term "fund", or a term containing that term, to designate the offeror, the issuer or the asset investment.

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