Consumer protection: The gray capital market should be better regulated

Consumer advocates call for comprehensive protection for private investors against loss-making investments in the so-called gray capital market.

Consumer protection: The gray capital market should be better regulated

Consumer advocates call for comprehensive protection for private investors against loss-making investments in the so-called gray capital market. "In the past, consumers have lost a lot of money with bad investments in the gray capital market," said Dorothea Mohn from the Federal Association of Consumer Organizations (vzbv) on Wednesday.

"We see clearly that this is not the exception, but the rule." Politicians must ban the sale of unregulated and therefore risky investments, demanded Mohn. In addition, incorrect advice should expire after 20 years at the earliest and not after ten years as before.

Among other things, the bankruptcy of the wind power operator Prokon in 2015 made headlines, in which investors lost several hundred million euros. The damage caused by the insolvency of the container provider P

Opportunities and risks in a precarious relationship

An expert opinion commissioned by the vzbv examined the financial situation of the ten largest providers of investments for the years 2015 to 2020, their publication policy and transparency towards investors. Opportunities and risks are therefore often in a questionable relationship. The equity of the companies is often vanishingly small. In the event of bankruptcy, there is often a risk of total loss of the money invested.

Accordingly, investors usually do not acquire ownership of the promised material assets such as real estate or freight containers, but instead lend money to special purpose vehicles, which in turn is passed on to other companies. Investors, as subordinate lenders, would hardly have any control or say. When assessing the economic success of projects, they often have to rely on annual reports that are not very meaningful.

The gray capital market was hardly regulated for a long time. In addition to reputable providers, there are also gamblers who meet gullible laypeople. Politicians have been increasingly tightening their grip on providers for a number of years. From the point of view of consumer advocates, however, that is not enough. "The legislature has never really lent a hand," said Mohn. The head of the financial market team at vzbv demanded an end to the "legislative minutiae". In order to avoid future damage, the active sale of investments in the gray capital market must be prohibited, among other things by financial investment brokers.

Yorum yapabilmek için üye girişi yapmanız gerekmektedir.

Üye değilseniz hemen üye olun veya giriş yapın.

NEXT NEWS