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Sound knowledge for sound decisions
Insights
In the Kronsteyn knowledge section, we provide analyses, guides, and up-to-date assessments on German and European financial markets law – from EMIR/MiFIR to MiCAR and the KAGB/AIFMD, as well as sanctions and AML law. Precise, practice-oriented, and continuously updated.
EU and German Investment Funds Law: Legal Expert Reports
Legal expert reports (expert opinions) on EU and German investment funds law—UCITS, AIFMD, KAGB, delegated regulations and BaFin standards—for litigation, arbitration and regulatory procedures worldwide.
4 days ago1 min read
Loan Origination by German “Small AIFMs” (KVG light) under AIFMD II: What the Fondsrisikobegrenzungsgesetz Will Change
Germany will transpose AIFMD II by 16 April 2026. Learn how the Fondsrisikobegrenzungsgesetz changes loan origination for registered German AIFMs (KVG light/sAIFM), what restrictions fall away, and how to structure a German debt fund for professional investors.
Feb 203 min read
Market Making by an AIFM – A Contradiction?
Market making under the AIFMD examined: legal limits for AIFMs, MiFID II interaction, quoting obligations, supervisory classification and the pending CJEU case on internally managed AIFs.
Jan 2322 min read
Sub-Threshold AIFM (Small AIFM) in Germany: How to Structure It Properly
German AIFM light regime explained: how to structure a sub-threshold AIFM in Germany, including registration, eligible assets, investor categories, marketing rules and ongoing regulatory obligations.
Dec 19, 202510 min read
German Real Estate Transfer Tax (RETT): Current Case Law for Funds & SPV Reorganisations
German Real Estate Transfer Tax (GrESt): latest case law on when internal fund/SPV reorganisations stay tax-neutral where ultimate ownership is unchanged.
Sep 8, 20253 min read
Launching a German Hedge Fund: Overview of Legal Requirements
Legal requirements for German hedge funds: establishment, structuring, BaFin authorisation and ongoing management.
Aug 27, 20252 min read
German Market Access for UK-Originated Investment Funds
Investment fund managers domiciled in the United Kingdom (UK) are generally permitted to market in Germany investment funds they manage.
Jan 27, 20252 min read
Marketing Foreign Investment Funds in Germany
Investment fund managers domiciled outside Germany must comply with specific regulations to market their investment fund in Germany.
Jan 27, 20252 min read
Loan Origination by Foreign Investment Funds in Germany
Originating loans in Germany generally requires a BaFin license, if the foreign investment manager cannot rely on a specific exemption.
Jan 22, 20253 min read
German National Private Placement Regime (NPPR) for Alternative Investment Funds (AIF)
German National Private Placement Regime (NPPR) provides rules for AIFM domiciled within and outside the EU/EEA that intend to market an AIF to German investors.
Jan 15, 20252 min read
BGH: Intermediary's Liability due to False Information on German Deposit Guarantee Fund
The German Federal Supreme Court affirmed the liability of an intermediary due to false information on the German deposit guarantee fund.
Nov 14, 20222 min read
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