securities information sheet
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Securities Information Sheet (WIB) for Security Tokens – Can BaFin Delay the Approval Until the Start of the Token Sale?
Occasionally, BaFin refuses to approve WIBs until shortly prior to the start of the public offering, arguing that approval should be granted close in time to the start of the offering in order to ensure that the WIB is up-to-date. Is this administrative practice legally tenable?
