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The German Federal Government is serious about its plans to place "financial investment intermediaries/brokers" (Finanzanlagevermittler) (referred to herein as FIBs)

The Federal Financial Supervisory Authority has published a consultative draft guidance notice including a Q&A on the scope of the draft Capital Investment Act as well as the interpretation of the term "alternative investment fund, and the Draft firstly stipulates the individual legal characteristics for the term investment fund.

Private equity execution has evolved beyond traditional buyout models, requiring sophisticated deal structures, flexible financing arrangements, and comprehensive due diligence across ESG, cybersecurity, and geopolitical risks. Success now depends on navigating complexity through adaptive strategies, cross-border expertise, and the ability to maintain momentum when conventional approaches no longer suffice.

As evidenced on 19 July 2024 major IT outages, including those caused by a simple yet apparently defective "content update", can quickly cascade into systemic cyber incidents...

Switzerland boasts at least 150 named significant waterfalls, including Europe's largest. Most Swiss waterfalls flow peacefully and in a set direction.

The new German Capital Investment Act (Kapitalanlagegesetzbuch, "KAGB") enters into force on July 22, 2013.

During the financial crisis of 2008, many hedge fund managers ("HF Managers") exercised their rights to restrict fund liquidity, using their frequently underestimated legal powers to put in place gates, suspend redemptions and even segregate illiquid fund assets for years in closed-end vehicles (so-called "side pockets").

As discussed in extensive Thought Leadership coverage from our EU RegCORE as well as wider coverage across the PwC Network, the EU's Markets in Crypto-Assets Regulation (MiCAR) marks...

§ 613a of the Civil Code is the party pooper par excellence when it comes to transfers of business: when such transactions fail, it is because of this clause.

By the time you may have read this the European electorate will have voted in 751 MEPs (which includes the UK's 73 seats).

Consumer protection remains a core priority of the European Commission across the EU's Single Market. It is also a central aspect of the legislative reforms that aim to complete the construction...

On 26 June 2025, the German Federal Ministry of Finance (Bundesministerium der Finanzen, or BMF) published a new draft bill (following the formation of a new government) for an act to implement the DAC 8 Directive...

The EU's Market in Crypto-Assets Regulation (MiCAR) became fully operational as of 30 December 2024. As explored in PwC Legal's EU RegCORE' series...

The European Commission's proposal to revise the Sustainable Finance Disclosure Regulation (SFDR) is advancing through EU institutions with broad support for its core architecture, though critical technical questions remain unresolved.

On 23 July 2020, the ESRB published a Technical Note warning about the risks of corporate bond downgrades, notably the risks of and adverse impact from so-called "fallen angels" (which should be read in line with an earlier note).

The relatively recent so-called ‘Other Fund’ (also known as the German Part II Fund) was incorporated into the German Investment Act ("InvG") at the end of 2007.