The author examines whether § 31d WpHG contributes to the avoidance of conflicts of interest. To this end, she first outlines the regulatory requirements, European legal references, and possible interpretations of the provision, and assesses whether an absolute ban on inducements would lead to market failure and what advantages and disadvantages fee-based investment advice may have for the investor. Additionally, she explores the civil law implications of § 31d WpHG, the relationships between regulatory law and civil law, and the influence of European legal requirements on German civil law. Another focus is the question of whether there is a civil law claim for the return of inducements and whether this can potentially be waived.