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We have published a new briefing note which provided a visual guide, through a series of heat-maps, on the impact of the MiFID II conduct of business regime on Germany. Our intention is to produce further briefing notes which will use the same format and show how the MiFID II conduct of business regime will impact on other EU jurisdictions.…
After the implementation of the Alternative Investment Fund Managers Directive (AIFMD), entering the German investment market as non-German asset manager has become more difficult. On the other hand, the new German investment fund regime offers significant business opportunities. The role of German Master-KVGs, i.e. licensed and regulated fund management companies primarily focusing on administrative services rather than investment management functions, has become even more relevant as cooperation between (non-German) asset managers and such Master-KVGs is…