22 October 2015

BaFin publishes depositary circular

In February 2015, German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) published a circular on the depositary’s responsibilities and duties according to the German Capital Investment Code (Kapitalanlagegesetzbuch - KAGB). The circular shall address certain questions in relation to chapter 1 of section 3 of the KAGB and chapter IV of the Delegated Regulation (EU) No. 231/2013 (Level 2 Regulation). On 7 October 2015, BaFin has now published the final version of the depositary circular (Circular 08/2015 (WA)). 

The depositary circular replaces BaFin’s Circular 6/2010 (WA) on the custodian banks’ responsibilities and duties according to §§ 20 et seqq. of the German Investment Act (Investmentgesetz, InvG) of 2 July 2010. The depositaries and management company (Kapitalverwaltungsgesellschaften) have to implement the circular until 4 April 2016.

A Guide to Doing Business in China

We explore the key issues being considered by clients looking to unlock investment opportunities in the People’s Republic of China.

Doing Business in China
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