Germany: Fund Management/ REITs

The European Parliament's Economic and Monetary Affairs Committee has published two draft reports on the Market Integration and Supervision Package that significantly expand the European Commission's proposals, introducing comprehensive direct ESMA supervision over all EU CCPs and CSDs, direct oversight of significant asset management groups, and a statutory competition mandate for ESMA. These far-reaching changes to EU capital markets supervision architecture will fundamentally impact regulated firms' supe

European financial regulators are reshaping the landscape for investment firms, crypto-assets, and fund management through new guidance on MiFID passporting arrangements, digital asset oversight...

BaFin has released draft guidance on amendments to Germany's Capital Investment Code (KAGB) following the Fund Risk Limitation Act (FRiG), introducing significant changes to authorization procedures for capital management companies. The circular addresses new requirements for senior managers, including mandatory full-time employment and EU residency rules, while providing grandfathering provisions for existing structures.

On 12 December 2024, the European Securities and Markets Authority ("ESMA") published a consultation paper on draft regulatory technical standards ("RTS") on open-ended loan-originating alternative investment funds...

Publication of the Translations of the Guidelines on Funds' Names Using ESG or Sustainability-Related Terms

On August 22, 2024, Germany's Federal Fiscal Court (Bundesfinanzhof) published a decision that refocuses attention on the complexities of cross-border taxation...

From March 10, 2021, the main parts of the European Sustainable Finance Disclosure Regulation ((EU) 2019/2088 – SFDR) will apply.

Important Clarifications on the Permissibility of Investments in Closed-End Funds for German Special Funds (Spezialfonds)

In the last year of the current Grand Coalition, the German Federal Ministry of Finance has made a remarkable proposal: an Act to Strengthen Germany as a Fund Jurisdiction.