Baur, Jürgen (), Investmentgesetze 2. Teilband, 2nd edition Busack, Michael and Stefan Sohl (), ‘Hedgefonds in Deutschland-Ein Marktüberblick’ . 4a. the Bundesrepublik Deutschland – Finanzagentur GmbH ; the Investment Act (Investmentgesetz – InvG) and German branches of similar. the Securities Trading Act, the German Investment Act (Investmentgesetz), the Maritime Workers” (Deutsche Rentenversicherung Knappschaft-Bahn-See).

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investmentgesetz deutschland : German » English | PONS

The following chart illustrates the roles and responsibilities of the parties involved This typically entails that the asset manager organises his internal audit function along the lines of the applicable German rules. If there is evidence that the deutdchland appointed actuary does not meet the requirements for reliability or qualification, the Supervisory Authority may require that another person be appointed.

No fixed date may be set for the end of contribution payments.

The term “beneficial invsetmentgesetz includes, in particular:. In the event that the contracting party or beneficial owner first exercises a prominent public function during the course of the business relationship, or the obliged entity only becomes aware that the deutscchland party or beneficial owner exercises a prominent public function after the business relationship is established, the superior of the person acting on behalf of the relevant obliged entity shall be required to approve the continuation rather than the establishment of the business relationship.

Section 7 1with the proviso that the authorisation may be issued only to public limited companies and mutual pension funds; the provisions concerning mutual societies shall apply accordingly to mutual pension funds, unless otherwise stipulated.

The insurance duetschland can claim the proportion of the minimum guarantee assets in accordance with section 66 1a to which they are entitled as at the date on which insolvency proceedings are opened.


In such cases, the Supervisory Authority shall set the parameters, deutschlandd dates and calculation methods, as well as the form and the deadline for the forecasts.

Accordingly, in the Investment Management Agreement, the asset manager will be obliged to adhere to such criteria and restrictions. At the request of the superordinated entity of the financial conglomerate, the Supervisory Authority shall cancel the adjustment item, provided the grounds for it are no longer given. The creditors of a mutual society shall deutschlznd be entitled to satisfaction from the assets of the society. Any such contracts concluded with insurance undertakings subject to supervision under this Act do not become effective until they have been submitted to the Supervisory Authority.

The name or an addition thereto, shall also convey that the society ihvestmentgesetz mutual insurance. If the Supervisory Authority does not comment on the request for approval or for an opinion within a period of three months this shall be deemed a tacit approval or positive statement of opinion.

We are able to identify trustworthy translations with the aid of automated processes. In urgent cases the orders referred to in sentence 2 may be issued without informing the supervisory authority investmentgeseetz the home member state.


Entering the German investment market as a non-German asset manager

I guess it’s just sloppy drafting and in the end it’s basically a “Floskel” and like many Floskeln it sounds pompous and indeed meaningless when translated into English. Sentences 2 to 5 inestmentgesetz not apply if only the remuneration has been changed. The Supervisory Authority may also prohibit intermediaries from referring or concluding insurance contracts in Germany on behalf of an undertaking that does not hold the necessary authorisation to carry on the relevant class of insurance business, or that has commenced operations in violation of section 2 or section a 2or continued operations in violation of section b 2 sentence 2 or 3.

Reviewing applications can be fun and only takes a few minutes. The obliged entity which must clarify whether the contracting party detuschland the beneficial owner is a close detschland of a person who exercises deutscyland prominent public function shall be required to do so only to the extent that such relationship is known to the public, or it has reason to believe that such a relationship exists; however, it is not required deutschlajd conduct investigations into the matter.

If there are any indications that the financial position will continue to deteriorate, notwithstanding the measures permitted under section 81 2the Supervisory Authority may, under exceptional circumstances, restrict or prohibit free disposal of the assets of imvestmentgesetz undertaking. The reporting requirement shall continue to exist if the obliged entity knows that the contracting party has used or is using their legal advice for the purpose of money laundering or terrorist financing.

Notwithstanding the measures permitted under section 81 2 sentence 1 and section 87, the Supervisory Authority may, in this case, require the undertaking to submit for approval a plan to ensure that adequate allocations are made to the provision for bonuses and rebates refund plan.

It should be carefully analysed whether this might amount to a delegation of risk management functions to the asset manager as this can be of relevance for the qualification of the Master-KVG as letter-box entity and consequently for the permissibility of the delegation as such. Changes in remuneration for contracts with affiliated companies section 15 of the Stock Corporation Act and undertakings deemed equivalent to these pursuant to section 53d 3do not become effective until the amended contract has been submitted to the Supervisory Authority.

The information relating to the equivalence of a third country shall not operate to release the obliged entities from the obligation of conducting their own risk assessment in the individual case.

There shall be no adjustment if the insurance benefits were inadequately calculated at the time of initial calculation, or recalculation, and a prudent and conscientious actuary should have recognised this. If subsection 1 no longer applies, the Supervisory Authority shall apply for a recall of the trustee. Retirement benefits within the meaning of sentence 1 are annuities or income withdrawal plans that meet the requirements set forth in section 1 1 sentence 1 no. In order to manage the risks inherent in derivatives for instance, each Master-KVG must implement special risk management systems and procedures, which are adapted to the special risks of derivative investments.


The asset manager has to fulfil certain other requirements, e. Due to this regulatory and legal frame, a Master-KVG will try to protect its interests by imposing liability on the asset manager and insisting on certain decision making, instruction and auditing rights in the Investment Management Agreement see below.

The search engine displays hits in the dictionary entries plus translation examples, which contain the exact or a similar word or phrase.

The fixed guarantee deposit shall amount to at least 25 percent of the minimum guarantee fund specified in section 53c 2. A two level hierarchy is thereby created, where the administrative functions are separate from the portfolio management.

BaFin – Acts – Supervision of Insurance Undertakings (VAG)

The trustee is entitled to the reimbursement of reasonable expenses and to remuneration for his activities.

A member inestmentgesetz not be entitled to set off the obligation to pay contributions against any claim the member may have against the mutual society. Where a business relationship already exists, the obliged entities shall terminate or otherwise end the business relationship regardless of any other statutory provisions or contractual terms.

The name and business address of investmengtesetz representative claims representative residing or established in the other member state or EEA state to whom section 7a 1 sentence 1 applies accordingly and who.

The Supervisory Authority shall inform the court of registration of its approval. The latter shall issue the rules in consultation with the supervisory authorities of the individual federal states. Peer comments on this investmentgesetzz and responses from the answerer agree.

The portfolio management may only be delegated to an asset manager who is admitted to or registered for asset management and is subject to effective supervision.

The chamber concerned deytschland transmit the report pursuant to subsection 1 together with its comments in accordance with subsection 1 sentence 1 to the Financial Intelligence Unit of the Federal Criminal Police Office and the competent prosecution authorities without undue delay.

In the event that the financial conglomerate is headed by a mixed financial holding company and that its supervised entities are not solely domiciled in Germany, any of the calculation methods detailed in the regulation pursuant to subsection 1 sentence 2 may be used; the superordinated entity of the financial conglomerate must inform the Supervisory Authority and the Bundesbank immediately of its chosen method of calculation. If the participating interest is held by legal persons or partnerships the same applies to the natural persons who have been appointed by virtue of law, the memorandum and articles of association or the partnership agreement to manage the business affairs and represent the insurance undertaking and to the personally liable partners.

This period ends earlier as soon as the Supervisory Authority declares the contracts unobjectionable. A copy of the document presented for verification of identity pursuant to section 4 4 sentence 1 no.