Notification obligation

(1) Persons other than investment services undertakings who, in the exercise of their profession or in the course of their business activity, are responsible for producing investment strategy recommendations within the meaning of Article 3(1), no. 34 of Regulation (EU) No 596/2014, or investment recommendations within the meaning of Article 3(1), no. 35 of Regulation (EU) No 596/2014, or for disseminating them, must notify this to the Bundesanstalt before producing or disseminating the recommendations. The notification must contain the following particulars: 1. in the case of a natural person, name, place and date of birth, residential and business address, and telephone and electronic contact details, 2. in the case of a legal person or association of persons, business name, name or designation, legal form, registration number where applicable, address of the seat or principal place of business, names of the members of the representative body or statutory representatives, and telephone and electronic contact details; where a member of the representative body or the statutory representative is a legal person, its business name, name or designation, legal form, registration number where applicable, and address of the seat or principal place of business must also be given. The particulars under the second sentence must be substantiated. Where the person subject to the notification obligation intends to disseminate the recommendations, the notification must also contain a detailed description of the intended distribution channels. The person subject to the notification obligation must further notify the extent to which facts exist at undertakings connected with it that could give rise to conflicts of interest. Changes to the notified data and circumstances, and the discontinuation of the activities referred to in the first sentence, must be notified to the Bundesanstalt within four weeks.
(2) The Bundesanstalt publishes on its website the name, business name or designation of the persons and associations of persons duly notified under subsection (1), second sentence, no. 2, and the place and country of their residential and business address or of their seat or principal place of business.