Berenberg Asset Management LLC

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
JOH, BERENBERG, GOSSLER &
CO. KG
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
BUNDESANSTALT FÜR FINANZDIENSTLEISTUNGSAUFSICHT ­ "BAFIN"
2.
Principal Sanction:
Suspension
Other Sanctions: 
3.
Date Initiated (MM/DD/YYYY): 
06/19/2026
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
No Product
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
ON JUNE 19, 2026, THE GERMAN FEDERAL FINANCIAL SUPERVISORY AUTHORITY (BUNDESANSTALT FÜR FINANZDIENSTLEISTUNGSAUFSICHT ­ "BAFIN")
ISSUED AN ORDER SUSPENDING THE POWERS OF THE THREE MEMBERS OF THE MANAGEMENT BOARD OF JOH. BERENBERG, GOSSLER & CO. KG
("BERENBERG"), THE ULTIMATE PRINCIPAL OWNER OF BAM. TO ENSURE SEAMLESS OPERATIONS AND REGULATORY COMPLIANCE, BAFIN APPOINTED
DR. HANS-WALTER PETERS AS SPECIAL REPRESENTATIVE (SONDERBEAUFTRAGTER) FOR MARKET AND CLIENT AFFAIRS AND MR. MICHAEL HORF AS
SPECIAL REPRESENTATIVE FOR BACK OFFICE, WHO ARE JOINTLY EXERCISING INTERIM MANAGEMENT OF THE BANK. NO OTHER PERSONNEL OR
OPERATIONAL CHANGES HAVE BEEN ORDERED BY BAFIN AND NEITHER THE APPLICANT NOR ANY MEMBER OF ITS MANAGEMENT WAS THE SUBJECT OF
THE BAFIN ORDER. THE SUSPENSION RELATES TO INDICATIONS OF POTENTIAL CORPORATE GOVERNANCE BREACHES AT THE MANAGEMENT BOARD
LEVEL, WHICH WERE IDENTIFIED DURING THE AUDIT OF THE 2025 ANNUAL FINANCIAL STATEMENTS. UPON THE INITIATIVE OF THE BANK'S AUDIT
COMMITTEE-AND NOT BY ORDER OF BAFIN-BERENBERG PROACTIVELY COMMISSIONED AN INDEPENDENT INTERNAL FORENSIC INVESTIGATION INTO
THESE MATTERS. BERENBERG IS COOPERATING FULLY WITH BAFIN TO REVIEW THE FINDINGS AND EVALUATE POTENTIAL ENHANCEMENTS TO ITS
OPERATIONAL PROCESSES, INTERNAL CONTROL SYSTEMS, AND COMPLIANCE FRAMEWORKS.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
11. Resolution Date (MM/DD/YYYY):
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension

B.
Other Sanctions Ordered:
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON JUNE 19, 2026, THE GERMAN REGULATOR, BAFIN SUSPENDED THE MANAGEMENT BOARD OF JOH. BERENBERG, GOSSLER & CO. KG ("BEGO"), BAM'S
ULTIMATE PARENT COMPANY, REGARDING POTENTIAL CORPORATE GOVERNANCE ISSUES IDENTIFIED IN A 2025 AUDIT. BAFIN APPOINTED DR. HANS-
WALTER PETERS AND MR. MICHAEL HORF AS SPECIAL REPRESENTATIVES TO PROVIDE INTERIM MANAGEMENT.