Prohibition of advertising

(1) In order to counter abuses in advertising for asset investments, BaFin may prohibit issuers and offerors from engaging in particular kinds of advertising. An abuse exists in particular where 1. advertising does not contain the notices prescribed under section 12(1) to (3), 2. advertising contains a reference not permitted under section 12(4), 3. advertising contains a use of terms not permitted under section 12(5), 4. advertising is made touting the safety of the asset investment although repayment of the asset investment is not, or not fully, secured, 5. advertising is made with particulars, in particular as to costs, return and yield and dependence on the conduct of third parties, that misleadingly create the impression of a particularly favourable offer, or 6. advertising is made with particulars capable of misleading as to the scope of the review under section 8(1).
(2) Before general measures under subsection (1), the peak associations of the business sectors concerned and of consumer protection must be heard.