Archive:September 3, 2024

1
Europe: BaFin Changes Its Process for Fund Passporting Into Germany
2
ASIC Seeks to Clarify the Scope of the “Authorised Representative” Exemption

Europe: BaFin Changes Its Process for Fund Passporting Into Germany

Sep 03 2024
Browse archives for September 03, 2024
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Distribution, ESG, Global Regulatory Development, Institutional Investors, Retail Investor Funds

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By: Hilger Von Livonius, Emma O’Dwyer, Aoife Maguire, and Gayle Bowen

On 14 and 15 August 2024, the German Federal Financial Supervisory Authority (BaFin) updated the following guidance notices:

Guidance Notice on marketing of EU UCITS in Germany

Guidance Notice (2013) for marketing units or shares of EU AIFs or domestic special AIFs (Spezial-AIF) managed by an EU AIF management company to semi-professional and professional investors in the Federal Republic of Germany pursuant to section 323 of the Investment Code

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ASIC Seeks to Clarify the Scope of the “Authorised Representative” Exemption

Sep 03 2024
Browse archives for September 03, 2024
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Distribution, Global Regulatory Development, Investment Manager Regulation, Retail Investor Funds, Sophisticated Investor Funds

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By: Kane Barnett and Daniel Nastasi

The Australian Securities and Investments Commission (ASIC) has appealed certain findings in the recent decision in Australian Securities and Investments Commission v BPS Financial Pty Ltd [2024] FCA 457 (BPS Financial Decision) in relation to the scope of the authorised representative exemption. The authorised representative exemption is commonly relied upon and allows a person or entity to provide a financial service under the Corporations Act on behalf of the holder of an AFS licence without having to hold an AFS licence itself. 

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