Registration and reporting obligations

(1) AIF capital management companies that satisfy the requirements of section 2(4), second sentence, 1. are obliged to register with the Federal Institute, 2. must identify themselves, and the AIF managed by them at the time of registration, to the Federal Institute, 3. must submit to the Federal Institute, at the time of their registration, information on the investment strategies of the AIF managed by them, 4. must regularly inform the Federal Institute of a) the main instruments in which they trade and b) the principal risks and concentrations of the AIF managed by them, in order to enable the Federal Institute to conduct effective monitoring of systemic risk, 5. must notify the Federal Institute without delay where the requirements named in section 2(4) are no longer satisfied, 6. must be legal persons or commercial partnerships, and 7. may manage only AIF in the legal form of a) a legal person, or b) a commercial partnership in which the general partner with unlimited liability is exclusively a stock corporation, a limited liability company, or a limited partnership whose general partner with unlimited liability is exclusively a limited liability company, and in which investors' obligation to make additional contributions is excluded. Where the AIF is set up as an open-ended AIF in the legal form of an investment stock corporation with variable capital, sections 108 to 112, 114 to 118, and 120 to 123 apply correspondingly. Where the AIF is set up as an open-ended AIF in the legal form of an open-ended investment limited partnership, sections 124 to 127 and 129 to 138 apply correspondingly. Where the AIF is set up as a closed-ended AIF in the legal form of an investment stock corporation with fixed capital, sections 140 to 146 and 148 apply correspondingly. Where the AIF is set up as a closed-ended AIF in the legal form of a closed-ended investment limited partnership, sections 149 to 152 and 155 to 161 apply correspondingly.
(2) AIF capital management companies that satisfy the requirements of section 2(4), second sentence, must transmit to the Federal Institute, together with the application for registration and in addition to the particulars named in subsection (1), 1. the particulars of the managers, 2. the names of the owners with significant participations in the respective AIF capital management company, and 3. a declaration to the effect that a) the requirements of subsection (1), first sentence, point 7, and of section 2(4), second and third sentence, are satisfied, and b) the documents submitted are complete and correct with regard to the particulars under points 1 and 2 and subsection (1), first sentence, points 2 and 3, and with regard to the satisfaction of the requirements under subsection (1), first sentence, points 6 and 7.
(3) The AIF capital management company must notify the Federal Institute without delay of the following: 1. the appointment of a person as manager; 2. the departure of a manager; 3. the acquisition or relinquishment of a significant participation in the AIF capital management company, alone or acting in concert with other persons or undertakings, stating the name and address of the person concerned and the size of the participation.
(4) The Federal Institute confirms the registration to the AIF capital management company within two weeks of receipt of the complete application for registration, where the requirements for registration are satisfied. The Federal Institute refuses registration to the AIF capital management company where 1. not all the information and documents required at the time of registration under subsections (1), (2), and (7) have been transmitted, or have not been transmitted in the required form, 2. the AIF capital management company is not a legal person or a commercial partnership, 3. the AIF capital management company manages AIF in a legal form other than those named in subsection (1), point 7, or 4. the AIF capital management company's head office or registered seat is not located in Germany.
(5) The Federal Institute may, in addition to under the provisions of the Administrative Procedure Act, annul the registration where 1. the AIF capital management company obtained the registration on the basis of false statements or by other unlawful means, 2. facts become known to the Federal Institute that would justify a refusal of registration under subsection (4), 3. the AIF capital management company persistently infringes the provisions of this rule, or the further provisions of this Act applicable under section 2(4), or 4. the AIF capital management company has seriously, repeatedly, or systematically infringed the provisions of the Anti-Money Laundering Act. Instead of annulling the registration, the Federal Institute may require the removal of the responsible managers, and may also prohibit them from exercising their activity at capital management companies. Section 39(4) and (5), section 40(2a), and sections 40a to 40d apply correspondingly.
(5a) The registration lapses where the AIF capital management company 1. does not make use of it within one year of its grant, 2. has not exercised the business operations to which the registration relates for more than six months, 3. expressly waives it, or 4. transfers its registered seat abroad in the course of a conversion under section 305, section 320, or section 333 of the Conversion Act. Section 39(1), second sentence, applies correspondingly.
(6) Where the requirements named in section 2(4), (6), or (7) are no longer satisfied, the AIF capital management company must, within 30 days, 1. apply for authorisation under sections 20 and 22 within 30 calendar days, or 2. transfer the right of management to another AIF capital management company.
(6a) Where the AIF capital management company has applied for authorisation under subsection (6), point 1, and is requested by the Federal Institute to submit in full the particulars and documents required for the grant of authorisation under section 22, it must comply with that request within three months. Upon the unsuccessful expiry of this period, the AIF capital management company's application for authorisation is deemed withdrawn.
(7) Further provisions on the obligations of AIF capital management companies as to registration and the submission of information, in order to enable effective monitoring of systemic risk, and on the obligation to notify the competent authorities under subsection (1), follow from Articles 2 to 5 of Delegated Regulation (EU) No 231/2013.
(8) AIF capital management companies must transmit the notifications under subsection (1), point 4, electronically via the Federal Institute's reporting and publication system.
(9) The Federal Institute may, by general decree, lay down further provisions on the type, scope, form, and frequency of the notifications to be submitted under subsection (8), and on the permissible data carriers, data structures, and transmission channels.