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ARTICLE · 15 MAY 2015

BaFin's New Administrative Practice On Loan Originating Funds

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The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, "BaFin") today announced changes to its administrative practice with regard to loan origination by investment funds.

GermanyFinance and Banking
P&P Pöllath And Partners
P&P Pöllath And Partners
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The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, "BaFin") today announced changes to its administrative practice with regard to loan origination by investment funds (Reference number WA 41-Wp 2100 – 2015/0001). Loan origination, which for investment funds was deemed inadmissible in the past, shall in future generally be viewed as a permissible investment activity for certain investment funds with qualified investors. BaFin however, in light of upcoming legislatory changes to the German Capital Investment Act (Kapitalanlagegesetzbuch, "KAGB"), has made certain restrictive recommendations which should be adhered to today already.

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