Fee-based financial investment adviser - applying for a licence

• Personal reliability Reliability is verified based on various documents. The applicant must submit an excerpt from the Federal Central Criminal Register (certificate of good conduct) and an excerpt from the Commercial Central Register. • If the licence is applied for by presenting the licence certificate as a financial investment intermediary, there is no examination of reliability. • Orderly financial circumstances It is verified whether the applicant is in debt (of a private or public nature) or if there are any known insolvency proceedings. • If the licence is applied for by presenting the licence certificate as a financial investment intermediary, there is no examination of the financial circumstances. • Adequate insurance cover Proof of professional insurance cover for the business. • Expert knowledge Proof of successfully passed examination of competence before a CCI or a similar approved professional qualification. • To apply online: Register or log in with your BundID account.

• Application for a licence pursuant to § 34h of the Trade Regulations (GewO) (remunerated financial investment consultant) You can either submit the application online or use the form and submit the application in writing by post. • Identity document Identity card or other official identification document containing a photograph (not required for electronic applications). Residence permit, if the applicant is not an EU national • Certificate of good conduct for presentation to an authority service.berlin.de/dienstleistung/120926/ To verify personal reliability, information from the Federal Central Register (certificate of good conduct) is required for submission to an authority (document type O). The information must be applied for at the municipality of residence (in Berlin at every citizens' office) for submission to an authority, i.e. it is sent directly to the public order office responsible for the place of business. The information must not be older than three months. The Federal Ministry of Justice also offers an online application procedure. (see "More information") • Excerpt from the central business register for presentation to an authority service.berlin.de/dienstleistung/327835/ In order to verify personal reliability, information from the central business register for natural persons is required for submission to an authority (document type 9). As a private individual, the information must be applied for at the municipality of residence (in Berlin at every citizens' registration office) for submission to an authority, i.e. it is sent directly to the public order office responsible for the place of business. Legal entities with their place of business in Berlin apply for it at their competent public order office. The information must not be older than three months. The Federal Ministry of Justice also offers an online application procedure. (see "more information") • Information from the debtors' register (Central Enforcement Portal) service.berlin.de/dienstleistung/327028/ Information on entries can be requested online at the Central Enforcement Portal of the Federal States. (see "More information") • Information from the insolvency register service.berlin.de/dienstleistung/327527/ • For insolvency proceedings of natural persons residing in Berlin, two certificates are required as proof. The first for consumer insolvency proceedings is to be applied for at your local court and the second for regular insolvency proceedings at the Charlottenburg Local Court Amtsgerichtsplatz 1, 14057 Berlin. • The Charlottenburg Local Court, Amtsgerichtsplatz 1, 14057 Berlin, is responsible for insolvency proceedings of legal entities and trading partnerships with their place of business in Berlin. Applicants with their place of residence/business outside of Berlin should inform themselves about the respective jurisdiction of the insolvency courts via the central local and court directory (see "More information"). • Proof of competence service.berlin.de/dienstleistung/330397/en/ Proof of CCI examination of competence or similar recognised professional qualification. • Professional liability insurance www.gesetze-im-internet.de/finvermv/__9.html Confirmation from an insurance company that the financial investment consultancy business is covered by professional liability insurance. The confirmation must be no older than three months. • Up-to-date excerpt from the Trade Register www.handelsregister.de/rp_web/welcome.xhtml Registered companies are required to submit an up to date excerpt from the Trade Register when applying. Legal entities that are in the process of being established (GmbH, AG) are required to submit their partnership agreement or statutes.

• Application for a licence pursuant to § 34h of the Trade Regulations (GewO) (remunerated financial investment consultant) www.berlin.de/formularverzeichnis/?formular=/ordnungsamt/ste

EUR 90.00 to EUR 1,740.00 per effort

• Gewerbeordnung (GewO, Trade Regulation Act) § 34h para. 1 www.gesetze-im-internet.de/gewo/__34h.html • Verordnung über die Finanzanlagenvermittlung (FinVermV, Ordinance on Financial Investment Brokerage) www.gesetze-im-internet.de/finvermv/ • Kreditwesengesetz (KWG, Banking Act) § 2 paragraph 6 sentence 1 number 8 - sector exemption www.gesetze-im-internet.de/kredwg/__2.html • Vermögensanlagengesetz (VermAnlG, Asset Investment Act) § 1 paragraph 2 - scope of application for asset investments www.gesetze-im-internet.de/vermanlg/__1.html • Kreditwesengesetz (KWG, Banking Act) § 1 paragraph 1a number 1a - definition of investment advice www.gesetze-im-internet.de/kredwg/__1.html • Verwaltungsgebührenordnung (VGebO, Administrative Fees Ordinance) gesetze.berlin.de/bsbe/document/jlr-VwGebOBE2009rahmen

1 month

• Informationen to Financial investment broker (IHK Berlin) www.ihk.de/berlin/pruefungen_lehrgaenge/pruefungen/Sach-_und • Information sheet on the exemption for the brokerage of investment funds and investments (BaFin) www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Merkblatt/mb_ • Information from the debtor register (enforcement portal of the federal states) www.vollstreckungsportal.de/zponf/allg/willkommen.jsf • Insolvency announcements online (justice portal of the federal states) neu.insolvenzbekanntmachungen.de/ap/ • Search for the competent court (central directory of places and courts) www.justizadressen.nrw.de/de/justiz/suche • Privacy policy (Public Order Offices of Berlin) www.berlin.de/formularverzeichnis/?formular=/wirtschaft/gewe • Fee-based financial investment advisor - register for the examination of expertise (service) service.berlin.de/dienstleistung/330397/en/ • Financial investment broker - apply for a licence (service) service.berlin.de/dienstleistung/327479/en/ • Register of intermediaries IHK - Apply for registration (service) service.berlin.de/dienstleistung/329370/en/

The permit must be applied for at the Ordnungsamt (public order office) responsible for the place of business. If a place of business is not yet known, the permit can also be applied for at the Ordnungsamt responsible for the applicant's place of residence.