On May 29, 2024, the German Federal Cabinet adopted a draft law to amend the Carbon Dioxide Storage Act (Kohlendioxid-Speicherungsgesetz – KSpG) and key points of a carbon management strategy. The draft law is based on a...more
The European legislator has initiated two directives with the intent of clarifying and unifying the EU’s legal framework on environmental claims, the EmpCo Directive and Green Claims Directive.
Environmental, social, and...more
The Alternative Fund Managers Directive (AIFMD - Directive 2011/61/EU) came into effect in Germany on July 22, 2013 when the AIFM Implementation Act came into force and brought about fundamental changes to German investment...more
There has been a growing trend among traditional funds and asset managers to launch programs to tokenize alternative assets. The main benefits of tokenizing funds include increased liquidity and accessibility, heightened...more
The Financial Market Integrity Strengthening Act includes a large number of innovations aimed at strengthening confidence in the German financial market by placing more comprehensive obligations on auditors when auditing...more
The German Act on the Further Development of the Restructuring and Insolvency Law (Sanierungs- und Insolvenzrechtsfortentwicklungsgesetz – SanInsFoG) took effect on January 1, 2021, transforming the European Restructuring...more
Economic turmoil as a result of political instability and from the coronavirus (COVID-19) pandemic, together with unallocated capital and low interest rates, means that non-core, but potentially profitable, operations or...more
As the economic effects of the coronavirus (COVID-19) pandemic continue to be felt, Germany’s protective shield proceeding under Section 270b of the Insolvency Code is a way for companies to restructure under the direction of...more
In order to avoid a large number of corporate insolvencies, the German Parliament adopted a law on March 25 to mitigate the consequences of the coronavirus (COVID-19) pandemic in civil, insolvency, and criminal procedural...more
On 1 January 2020, the Act on the Implementation of the Amendment Directive to the Fourth EU Money Laundering Directive (Gesetz zur Umsetzung der Änderungsrichtlinie zur Vierten EU-Geldwäscherichtlinie) will enter into force...more
The German Federal Financial Supervisory Authority (BaFin) has issued a notice letter reflecting its pragmatic approach to regulating initial coin offerings. In the absence of specific European and German laws, BaFin’s...more
A draft bill to prosecute undertakings for corporate crimes in Germany includes sanctions against undertakings, an incentive scheme for conducting internal investigations, and clarification on the attorney-client...more
Guidelines indicate that violations of the German Securities Trading Act will be sanctioned more rigorously by the German federal financial supervisory authority in the future.
Since July 2016, the German federal...more
Germany’s private placement rules for funds will change again.
On 19 July, the European Securities and Markets Authority (ESMA) published its advice on applying the Alternative Investment Fund Managers Directive (AIFMD)...more
8/3/2016
/ AIFM ,
AIFMD Passport ,
AIFs ,
Alternative Investment Fund Managers Directive (AIFMD) ,
EU ,
EU Passport ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
European Union Delegated Act (EUDA) ,
Fund Managers ,
Germany ,
Grandfathering Rules ,
Private Placements
ESMA sees no significant obstacles to extending the AIFMD passport to nine key countries.
The European Securities and Markets Authority (ESMA) has published advice to the European Commission, the European Parliament, and...more
7/21/2016
/ AIFMD Passport ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
ASIC ,
Australia ,
Bermuda ,
Canada ,
Cayman Islands ,
CIMA ,
EU ,
EU Passport ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Hong Kong ,
Island of Guernsey ,
Japan ,
Member State ,
Monetary Authority of Singapore ,
Singapore ,
Switzerland ,
UCITS
New European transparency requirements have been transformed into German law.
On 27 November, Germany will implement the Amendment Directive to the Transparency Directive (2013/50/EU, the Amendment Directive). The...more
By changing its administrative practice, the BaFin allows loan origination and loan restructuring by investment funds in Germany.
On 12 May, the German Federal Financial Supervisory Authority (BaFin) published changes to...more
Schuldschein loans, which offer straightforward documentation and easy transferability, are an interesting alternative financing instrument for borrowers and investors.
Traditional German debt instruments called...more
New clearing, risk mitigation, and reporting obligations imposed on certain derivative contracts.
On 15 March, the first six implementing measures of the European Market Infrastructure Regulation (EMIR) entered into...more
Act regulates high-frequency trading firms and certain trading activities to address concerns about their potential impact on market stability.
On 28 February, the German Parliament (Bundestag) approved the "Act for...more