Protection of designation

(1) Unless otherwise provided by law, the designation "securities institution" or "investment services enterprise", or a designation containing one of these words, may be used in the company name, as an addition to the company name, to designate the business purpose, or for advertising purposes, only by: 1. securities institutions holding a licence under section 15, or branches of undertakings under section 70(1), first sentence; 2. other undertakings that were entitled to use such a designation under the previously applicable provisions when this Act entered into force. Securities institutions that were permitted, before this Act entered into force, to use the term "Bank" or "Wertpapierhandelsbank" as part of their name or company name may continue to use that term in its previous form. They may not, however, give it competitive prominence.
(2) The Bundesanstalt decides, in cases of doubt, whether an undertaking is entitled to use the designations named in subsection (1). It must communicate its decisions to the registry court.