Notification duty of an EU AIF management company on the intended marketing of EU AIF or domestic special AIF to semi-professional and professional investors domestically

(1) Where an EU AIF management company intends to market units or shares in EU AIF or in domestic special AIF to semi-professional or professional investors within the scope of this Act, the Federal Institute examines whether the competent authority of the EU AIF management company's home Member State has transmitted the following: 1. a certificate issued by it under Annex IV to Implementing Regulation (EU) 2024/913, in its version in force, and 2. a notification letter under Annex II to Implementing Regulation (EU) 2024/913, in its version in force, in each case in a language customary in the international financial world.
(2) Marketing may commence once the EU AIF management company has been informed of the transmission under subsection (1) by the competent authority of its home Member State. Where the AIF within the meaning of subsection (1), first sentence, is a feeder AIF, a right to market under the first sentence exists only where the master AIF is also an EU AIF or a domestic AIF managed by an EU AIF management company or an AIF capital management company. The Federal Institute examines whether the precautions under section 321(1), second sentence, point 7, are suitable to effectively prevent marketing to retail investors, and whether the precautions under section 323(1), second sentence, infringe this Act.
(3) Where the Federal Institute is informed by the competent authorities in the EU AIF management company's home Member State of a change to the precautions under section 321(1), second sentence, point 7, and section 323(1), second sentence, the Federal Institute examines whether the precautions under section 321(1), second sentence, point 7, are still suitable to effectively prevent marketing to retail investors, and whether the precautions under section 323(1), second sentence, still do not infringe this Act.