Advertising by investment services undertakings

(1) In order to counter abuses in the advertising of investment services and ancillary investment services, the Bundesanstalt may prohibit investment services undertakings from engaging in particular types of advertising. An abuse exists in particular where the investment services undertaking 1. does not, or does not adequately, draw attention to the risks associated with the investment service it provides, 2. advertises the security of an investment although repayment of the investment is not, or not fully, secured, 3. includes in its advertising particulars, in particular as to costs and return and as to dependence on the conduct of third parties, that create, in a misleading manner, the impression of a particularly favourable offer, 4. includes in its advertising misleading particulars about the powers of the Bundesanstalt under this Act, or about the powers of the bodies responsible for supervision in other Member States of the European Economic Area or in third countries.
(2) Before general measures under subsection (1), the umbrella associations of the business circles concerned and of consumer protection are to be consulted.