“In a way fair for investors.” Since June 2012 new rules have been in place for the investment side of German banks, which must now, according to the 4 Mar 2013 F.A.Z., “disclose fees, keep a record of what is said during investment consultations and give a copy of this record to the consulting clients. Investment advisors must be able to show documentation proving that they have been trained to have expertise in this area and that they have professional liability insurance.” Critics of the “gray capital market” say these rules are insufficient.

(On LAY grr geh RECT.)

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