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Clifford Chance

Clifford Chance


Changes for Real Estate Funds - February 2011

1 March 2011

The German Government has passed the draft act on the strengthening of investors' protection and enhancing the efficiency of capital markets (Gesetz zur Stärkung des Anlegerschutzes und Verbesserung der Funktionsfähigkeit des Kapitalmarkts, AnsFuG) and has adopted the required amendments of the Financial Committee. We have used this as an opportunity to provide you with an update of our newsletter "Amendments to Rules on Real Estate Funds" dated September 2010. The current newsletter summarises the new provisions and the amendments compared to the draft as of September 2010 and the current situation. Further it summarises the new regulatory amendments with respect to open ended real estate funds.

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