Fund Distribution Alert 2024-16
Germany – Updated guidance notices for foreign UCITS and AIFs
Germany – Updated guidance notices for foreign UCITS and AIFs
The German Federal Financial Supervisory Authority (BaFin) has published updated versions of their guidance notices for marketing EEA UCITS and EEA AIFs in Germany. The latest guidance notices, dated 20/09/2024 and 14/08/2024 respectively, contain updated information regarding payments related to cross-border notifications of the mentioned funds.
Following the update, prepayment of regulatory fees and proof thereof is no longer required in the following cases:
- initial notifications of marketing EU UCITS or EU AIFs in Germany
- notifications made in case the information provided in the initial documents has changed (material change notifications)
- de-notifications of marketing arrangements for EU UCITS or EU AIF in Germany
Following the administrative procedure in all these instances, BaFin will issue a fee notice (Gebührenbescheid) for the processing fee, which is sent electronically together with payment details to the UCITS management company/the AIFM and/or the responsible person named in the notification letters.
The updated guidance notice for UCITS is available here.
The updated guidance notice for AIF is available here.
Please feel free to contact us should you require any additional information.
Contacts
Said Fihri
Partner
+352 22 51 51 7892
said.fihri@kpmg.lu
Henrik Olsson
Senior Manager
+352 22 51 51 7417
henrik.olsson@kpmg.lu