Legal Requirements
On 02 August 2021, the Directive (EU) 2019/1160 in regard to cross-border distribution of collective investment undertakings (UCITS) has become effective in all EU member states. Germany has transposed the rules of Article 92 of the Directive into Sec. 306a Investment Code (Kapitalanlagegesetzbuch – "KAGB").
The new rules define the formal requirements and the provision of relevant facilities for the cross-border distribution of UCITS and AIF funds to retail investors.
Inter alia, fund companies are required to provide facilities to perform relevant services in the official language of the member state and to appoint a facility as contact point to the member state authority.
Marcard, Stein & Co is fully licensed and supervised by Bafin. We are able to provide all relevant facility services from a single source in German language, including the “contact point of communication” to the German regulator Bafin
Please do not hesitate to contact us if you need assistance to ensure your UCITS fund will remain fully compliant with the new regulation for distribution in Germany.