In November 2020, the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in Germany updated its Guidance Notice (2013) regarding the marketing of units of EU UCITS.
Following the update, information that falls within one of the below five cases must be provided in German by means of a durable medium as well as the main medium. Previously this information could be provided in German or a language commonly used in international finance. As a reminder, the five cases are:
Fund Managers having their UCITS notified for distribution in Germany will have to take this update into consideration when providing information to investors in Germany.
Please feel free to contact us should you require any additional information.
Please note that any information provided is general in nature, is based on the latest publicly available information as analyzed on a best endeavor basis and does not constitute any specific legal opinion or advice.
© 2021 KPMG Luxembourg, Société coopérative, a Luxembourg entity and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.