Investment firms and credit institutions may use tied agents for the provision of investment services of investment advice and the receiving and transmitting of orders. Such tied agents are active under the umbrella of liability of an investment firm or a credit institution. Tied agents are only allowed to approach customers in the name of and on the account of an investment firm or a credit institution. They are obliged to present the power of attorney issued by the investment firm or the credit institution or a form of identification without being requested to do so. Tied agents must hold the appropriate licence to conduct business in accordance with Article 136a of the Commercial Code of 1994 (Gewerbeordnung 1994).