- In conjunction with the implementation of the European Directive on Alternative Investment Fund Managers (2011/61/EU) (the “Directive” or “AIFMD”) the German legislature decided to abolish the private placement regime in Germany, i.e., to terminate unregulated marketing and distribution of alternative investment funds (“AIFs”).
- As a result, from 22 July 2013 onwards, any kind of marketing or distribution of units in AIFs in Germany will be subject to governmental approval by BaFin, the German Financial Supervisory Authority...
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