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By Luigi Serenelli2020-12-15T15:11:00+00:00
The German Ministry of Finance has proposed a draft law to encourage investment fund activity in the country.
The law – Fondsstandortgesetz (FoG) or the Fund Location Act – if passed, it could translate into the implementation of the Directive (EU) 2019/1160 regarding the cross-border undertakings for the collective investment in transferable securities (UCITS). The deadline to integrate the European rules into national law is 2 August 2021.
The set of rules in the Fondsstandortgesetz is intended to reinforce Germany’s appeal as a location for registration of investment funds. Although the German market has shown signs of further progress in recent years, it still falls behind other European countries such as Luxembourg or Ireland for instance, the Ministry noted in the draft.