Section 52 GwG – Cooperation obligations

(1) 1An obliged entity, the members of its governing bodies and its employees are to provide the supervisory authority responsible under section 50 no. 1, if its supervisory activity concerns the obliged entities specified in section 50 no. 1 letters (g) and (h); the supervisory authority responsible under section 50 nos. 3 to 9; and the persons and institutions used by these supervisory authorities in the performance of their functions, upon request and free of charge, with

  1. information about all business affairs and transactions and
  2. documents
    which are relevant to compliance with the provisions laid down in this Act. 2In the context of its obligation under sentence 1 no. 2, the obliged entity must provide the authority with the documents to be submitted in the form of originals or copies, or electronically in digital form or on a digital storage medium.

(2) In inspections under section 51 (3), officials of the supervisory authority and other persons used by the competent supervisory authority in conducting its inspections may enter and inspect the premises of the obliged entity during usual hours of operation and business hours.
(3) Those concerned must tolerate the measures described in subsection (2).
(4) The person required to provide information may refuse to do so in response to any questions, the answering of which would make them or one of their relatives as specified in section 383 (1) nos. 1 to 3 of the Code of Civil Procedure (Zivilprozessordnung) liable to criminal prosecution or proceedings under the Act on Administrative Offences (Gesetz über Ordnungswidrigkeiten).
(5) 1Obliged entities under section 2 (1) nos. 10 and 12 may also refuse to answer questions if these questions relate to information they obtained in the context of providing legal advice to, or legal representation for, the contracting party. 2The obligation to provide information continues to exist if the obliged entity knows that their client has used or is using its legal advice for the purpose of money laundering or terrorist financing.
(6) 1Persons who, by virtue of their business activities, assume on the basis of facts that they are obliged entities under section 2 (1), must provide the competent supervisory authority under section 50 on request and without charge with information about all business matters and must submit all documents necessary for establishing whether they are obliged entities. 2Subsection (2) sentences 1 and 2 as well as subsections (4) and (5) apply, with the necessary modifications.