Berlin Excitement in the financial sector: The traffic light coalition is discussing a possible ban on commission. In a document drawn up by the Finance Working Group, it says: “We will gradually completely replace commission-based advice for small investors with independent fee-based advice and we are also campaigning for an end to commission advice in EU financial market law.”
It is not yet certain whether the coalition of the SPD, the Greens and the FDP will ultimately be able to agree on a ban on commission.
While consumer advocates cheer, the financial industry warns of serious consequences. “The proponents of a commission ban are obviously not interested in the socio-political consequences,” notes Thomas Richter, managing director of the German fund association BVI. Few are willing to pay extra for advice. “A look at England, for example, should warn against a commission ban. Large sections of the population there are cut off from advice, ”warns Richter.
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