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ARTICLE · 19 DECEMBER 2017

German Regulator Has Published New Investment Circluar For Pension Funds

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On December 12, 2017, the German Federal Financial Services Supervisory Authority published the final version of the long-awaited new investment circular for pension funds

GermanyEmployment and HR
Jens Steinmüller
Jens Steinmüller
Uwe Bärenz
Uwe Bärenz
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On December 12, 2017, the German Federal Financial Services Supervisory Authority published the final version of the long-awaited new investment circular for pension funds (the "Circular": Circular 11/2017 [VA], internet: https://www.bafin.de/SharedDocs/Veroeffentlichungen­/DE/Rundschreiben/2017/rs_1711_hinweise_anlage_sicherungsvermoegen_va.html

The new version of the investment circular which is of relevance for all investors which are subject to the German Investment Ordinance (Anlageverordnung) (in particular pension funds) had been prepared in a public consultation of a draft circular (the "Draft"; cf. our client information dated 22 December 2016, https://www.pplaw.com/sites/default/files/publications/2016/12/161222-ci-kapitalanlagen­rundschreiben-entwurf-draft-circular-investments-german-pension-funds.pdf).

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