Supervisory proceedings & investor disputes

Proceedings with BaFin, FMA, or other European supervisory authorities rarely proceed routinely. They often begin with a request for information and, in the worst case, end with a reversal order, a prohibition order, or even preliminary investigations on the grounds of alleged unauthorized financial services (§ 32 KWG, § 15 WpIG, § 34f GewO).

I represent companies, managers, and sales managers in all phases of such proceedings—nationwide, cross-border, and with many years of experience in numerous regulatory disputes, including in the European context.

Typical case scenarios:

Prohibition orders due to unauthorized investment brokerage, placement, custody business, or distribution without a prospectus
Rescission orders pursuant to Section 37 of the Securities Trading Act (WpHG), Section 16 of the Investment Act (VermAnlG) or Article 42 of the Prospectus Regulation
Special audits and requests for information pursuant to Section 44 of the German Banking Act (KWG), Section 89 of the Securities Trading Act (WpHG) or Section 306 of the German Investment Fund Act (KAGB)
Violations of disclosure requirements, advertising requirements, or PRIIPs rules
Cross-border proceedings in the event of passporting violations, for example in EEA distribution without valid notification

Regulatory defense does not end with the lifting of a measure: In many cases, civil law disputes with investors also ensue—e.g., due to alleged disclosure errors and prospectus errors, inadequate suitability assessments, or incorrect product information (e.g., incomplete PIDs/KIDs).

In such cases, I will also represent you before the ordinary courts – objectively, structured, and with a clear focus on economically viable solutions. Thanks to my many years of experience in capital market law and my experience from over 100 product reviews, I am able to develop lines of argumentation that present even complex processes in a legally comprehensible manner.

In addition, I advise on the criminal law implications of regulatory violations, for example in connection with Section 54 of the German Banking Act (KWG) (unauthorized operation of banking or financial services) or Section 119 of the German Securities Trading Act (WpHG). In cooperation with law firms specializing in criminal law, I coordinate all measures closely with you.

Proceedings with a supervisory authority or investor lawsuits require diligence, experience, and strategic foresight.

I will take over your defense—in a structured and assertive manner and with a clear understanding of regulatory interfaces and economic targets.

Investor proceedings – professionally defending against civil law disputes

Supervisory proceedings – for example, due to alleged unauthorized investment brokerage or failure to publish a prospectus – often result in civil disputes with investors. Clients are then suddenly confronted with a multitude of claims for damages based on alleged breaches of disclosure, information, or documentation obligations.

I represent companies, managers, distributors, and intermediaries in all stages of proceedings – from out-of-court defense and litigation to coordination with liability insurers or D&O providers.

Typical areas of conflict are:

Alleged prospectus errors (e.g., in VIB/WIB, incomplete risk disclosure, lack of essential information pursuant to Art. 6 et seq. of the Prospectus Regulation)
Violations of disclosure requirements under Section 63 et seq. WpHG or Section 11 et seq. FinVermV
Lack of or inadequate suitability and appropriateness assessment (MiFID II)
Misconceptions about the product structure or term ("pension insurance" instead of subordinated loans, etc.)
Connection to supervisory measures, such as reversal orders or prohibition orders by the BaFin or FMA

Thanks to my specialization in capital market law, I can quickly identify which claims are viable and which are not. This enables me to develop a targeted and structured defense strategy, even in cases involving numerous similar investor claims. Where necessary, I also coordinate settlement strategies to limit operational risks and costs.

A solid defense against investor lawsuits starts with a thorough review of the regulatory history.

I offer you both – expert legal representation and strategic damage control.