Our clients are German, EU and non-EU management companies, their distributors and depositaries. We advise on both investment funds regulation and other relevant regulatory issues (such as MiFID II).
We have more than fifteen years of experience in the sector and are familiar with the market standards. We cover the whole life cycle of investment funds, from the establishment or acquisition of management companies, to the regulatory requirements on collective portfolio management and marketing of investment funds.
Inter alia, our practice handles the following issues:
- Regulatory requirements on the remuneration systems of management companies according to s. 37 of the Capital Investment Code (Kapitalanlagegesetzbuch) in connection with Annex II AIFMD and Article 14a et seq. UCITS-Directive. We have been providing advice on the implementation of these requirements since 2013, cooperating closely with our labor and employment colleagues.
- Marketing: We have been advising on the regulatory framework for the marketing of investment funds since its origins in the first UCITS directive (Directive 85/611/EEC) and the first German laws on investment funds (former Gesetz über Kapitalanlagegesellschaften and Auslandinvestmentgesetz). A special focus of our practice has always been placed on the additional requirements under MiFID/MiFID II. Furthermore, we draft and negotiate distribution agreements as well as fund saving plans.
- We advise AIF- and UCITS-depositaries on their duties under investment funds regulation and banking regulatory laws.
- For the management of outsourcing projects, we team up with our colleagues from the corporate, labor and employment, IT and data protection departments.
- In litigation, we have vast experience in the defense of investors’ claims arising from investments in mutual funds, in particular equity funds and real estate funds.