TITLE: Germany's Federal Financial Supervisory Authority Issues Warning on TGI AG for Operating Without Required Prospectus
BODY:
On March 12, 2026, the Federal Financial Supervisory Authority (BaFin) issued a consumer warning regarding TGI AG, a company domiciled in Vaduz, Principality of Liechtenstein, which is offering capital investments to the public in Germany without publishing a required prospectus.
TGI AG is marketing investment products called "discounted gold purchases" (Goldkauf mit Rabatt) to German consumers. These investments involve the temporary provision of money in exchange for interest payments and physical gold delivery. BaFin has determined that TGI AG is operating in contravention of Section 6 of the German Capital Investment Act (Vermögensanlagengesetz – VermAnlG), which mandates that all capital investments offered to the public must be accompanied by an approved prospectus.
Under German law, prospectuses for capital investments must be approved by BaFin prior to publication. During the approval process, BaFin verifies that the prospectus contains minimum legally required information and that its content is understandable, coherent and consistent. BaFin does not, however, verify the accuracy of information, the reliability of issuers, or the viability of products themselves. Issuers remain liable for the accuracy of prospectus information.
Consumers can verify whether an approved prospectus has been filed with BaFin by consulting the prospectuses database on the BaFin website. BaFin encourages individuals with information about TGI AG—including contract templates, contact details, email addresses, or account information—to report such details to BaFin's contact point for whistleblowers to support its supervisory work.