backOn 26 October 2020, the German Federal Ministry of Finance and the German Federal Ministry of Justice published the draft bill of the law to strengthen the integrity of the financial market (Finanzmarktintegritätsstärkungsgesetz), which (apart from new capital market and supervisory law regulations in response to the Wirecard case) also intensifies the regulations on outsourcing for institutions and capital investment management companies; furthermore, BaFin's authority to issue orders to outsourcing companies is being introduced.
On the same date, BaFin submitted a new version of MaRisk for consultation. The revised outsourcing rules particularly are intended to implement the EBA guidelines on outsourcing. The EU Commission had already published a consultation on the AIFMD review on 22 October 2020, which also puts the outsourcing regulations for capital investment management companies on the test bench.
We are looking forward to discussing the perspectives of different stakeholders in this virtual event.
Please contact mhedke@kslaw.com if you have any questions or would like to register.