Brexit: FAQs for Asset Management Companies and Investment Funds
updated on 01.02.2020
Brexit: FAQs for Asset Management Companies and Investment Funds
Will it be possible for German asset management companies to continue outsourcing the tasks of portfolio management and risk management to UK companies after Brexit?
Yes, as BaFin and the British Financial Conduct Authority (FCA) have concluded a multilateral Memorandum of Understanding it will be possible to continue outsourcing the portfolio management and the risk management in accordance with section 36 of the German Investment Code (Kapitalanlagegesetzbuch – KAGB). Additionally, the UK company has to be authorised to provide the respective financial services.
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