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ARTICLE · 30 MAY 2014

Draft Of A New Investment Ordinance

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The Federal Ministry of Finance published today for consultation purposes a draft regulation amending the investment ordinance.

GermanyFinance and Banking
P&P Pöllath And Partners
P&P Pöllath And Partners
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The Federal Ministry of Finance (Bundesministerium der Finanzen, "BMF") published today for consultation purposes a draft regulation amending the investment ordinance ("AnlV-E"). The purpose of the proposed regulation is to adapt the capital investment rules, which are relevant for insurance companies, pension funds and other pension institutions, to the altered legal framework due to the implementation of the AIFM-Directive into the German Capital Investment Act (Kapitalanlagegesetzbuch, "KAGB"). While there are some minor improvements with regard to investments in debt instruments, the AnlV-E in essence foresees a significant tightening of the investment conditions for insurance companies and pension funds.

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