Private Placements with issuing and sales prospectuses requires official agreement. We obtain the approvals required, for example from the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BAFin) (the former Federal Securities Supervision Office (Bundesaufsichtsamt für den Wertpapierhandel, BAWe) and the Federal Banking Supervisory Office (Bundesaufsichtsamt für das Kreditwesen, BAKred)) and the identification numbers for securities (WKN respectively ISIN).