According to § 64 section 2 sentence 1 number 1 of the German Securities Trading Act (Wertpapierhandelsgesetz, WpHG), that an investment service company advises their customers to purchase, they must provide a short and easily comprehensible product information sheet to its customers in a timely manner before concluding a transaction for each financial instrument it recommends for purchase. Further details can be found in § 4 of the Ordinance specifying the behavioral rules and organizational requirements for securities service companies (Verordnung zur Konkretisierung der Verhaltensregeln und Organisationsanforderungen für Wertpapierdienstleistungsunternehmen, WpDVerOV).
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