Notify the intention to appoint a managing director of a capital management company

Source: BUS Rheinland-Pfalz

Capital management companies have various notification obligations vis-à-vis the Federal Financial Supervisory Authority. Among other things, they must report if they intend to appoint a managing director.

A corresponding decision by the responsible body of your company, for example the supervisory board, is deemed to be an intention. This is also the case if the selection is subject to the decision of other bodies or feedback from BaFin.

The duty of disclosure also applies

to the appointment of a representative and
the extension of a temporary appointment of a managing director (not the legal relationship on which the appointment is based)

Managing directors must fulfill the following criteria

professional suitability,
reliability and
sufficient time availability

BaFin assesses these criteria on the basis of the documents submitted.

Submit the notification of intention to appoint a managing director by post:

Go to the BaFin website and download the following forms:
- Form "Suitability matrix"
- "Notification of changes to the members of the management body" form
- Form "Information on reliability and availability pursuant to Article 4 DELEGATED REGULATION (EU) 2017/1943"
- Form "Personnel changes to the managing director in accordance with KAGB"
- Form "Information on reliability according to KAGB"
- Form "Secondary activities of directors, supervisory board members and advisory board members in accordance with KAGB"
Fill out the forms completely and truthfully. You can do this directly on the computer and print it out.
Enter the name of the company and the reference number so that the notification and the required documents can be clearly assigned.
In your notification, state the date on which you wish to appoint the managing directors.
Compile all the necessary documents. BaFin provides a "checklist" on its website which you can use to check whether your documents are complete.
Send the required documents to BaFin.
BaFin may request further documents and information if it appears necessary in individual cases.
After BaFin has checked your documents, you will receive a decision.

One copy of each:

Curriculum vitae: signed and dated by hand
Information on the reliability of the manager: signed and dated by hand
"Certificate of good conduct for submission to an authority", "European certificate of good conduct for submission to an authority" or "corresponding documents" from abroad in the original
Original extract from the central trade register
Overview of other mandates as managing director and in administrative and supervisory bodies
Information on time availability

Detailed information on the required documents can be found in BaFin's "Information sheet on managing directors in accordance with KWG, ZAG and KAGB".

If BaFin decides to impose restrictions or to reject a manager, it shall notify an asset management company within one month of receipt of the notification. BaFin may extend this period by up to one month if it deems this necessary due to the particular circumstances of the individual case of the capital management company. It must inform the capital management company of the extension of the deadline.

Forms: yes

Online procedure possible: no

Written form required: yes

Personal appearance required: no

Notify the intention to appoint a managing director of a capital management company

Process flow

Requirements

Which documents are required?

What are the fees?

What deadlines do I have to pay attention to?

Processing duration

Legal basis

Applications / forms

Appeal

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