Credit institutions and investment firms can also offer a wide range of investment services. This ranges from activities related to issuance services to investment advice and from securities trading to asset management. The regulatory framework for these activities is mainly shaped by EU-wide harmonization. The respective services are supervised by either the institution´s home-state authorities in the European Economic Area (EEA)  or by the German Federal Authority for the Supervision of Financial Services (BaFin).
 Member States of the EEA are all 27 Member States of the European Union as well as Liechtenstein, Iceland and Norway.