Regulatory Alerts2013-07-23
Guidance Notice on Marketing EU AIFs and Domestic Special AIFs to Professional Investors under Section 323 KAGB
The German Federal Financial Supervisory Authority (BaFin) establishes this guidance to standardize the electronic notification procedure for EU AIF management companies marketing units or shares of EU and domestic special AIFs to semi-professional and professional investors in Germany. The notice requires a complete notification letter detailing internal marketing arrangements, retail investor safeguards, and invoicing data, which BaFin verifies within twenty working days before cross-border marketing may commence. It further specifies the applicable processing fees (€466 for initial notifications, €284 for de-notifications, and €952 for updates), the conditions for modifying or terminating marketing arrangements, and precise e-mail filing protocols to ensure regulatory compliance.