Have election and change of depositaries approved

If you wish to apply for election or change to a new depositary, use BaFin's notification and publication platform (MVP) online for this purpose:

• To do so, log in to the MVP with your access data.
  • If you do not have access yet: First register on the MVP.
• Select the specialist procedure "Notification procedure KAGB - funds".
  • Please note that you must be registered for the specialist procedure. If you have not yet registered, you can do so in the "Specialized procedure" section ("Apply for specialized procedure").
• Select "Submit notification" and complete the online application.
• After activation, upload the required documents. Submit all documents exclusively via the MVP.
• After successful transmission of the documents, you will receive an electronic confirmation of receipt from BaFin.
• BaFin will review your request.
• If the documents are complete and the choice or change of depositary complies with the legal requirements, you will receive written approval from BaFin.

You want to launch a new investment fund or change the depositary for an existing investment fund.

• Notification of selection or change of depositary
• Attach to the notification a list of the investment assets to be managed, including details of the new depositary.
• In case of appointment of a depositary for a UCITS investment fund with which a group link exists, attach a report relating to the duties of the depositaries.
• Unless the institution or branch in question is already acting as depositary for investment assets of the same type with the approval of BaFin, or at the request of BaFin, enclose the following documents:
  • Curricula vitae of the management responsible for the depositary functions, unless these are already available to BaFin and are not older than 1 year
  • Business plan
  • Description of the organizational arrangements including the personnel structure and equipment
  • Depositary agreement, if applicable in the final negotiated version
  • confirmation of the branch office about the audit, if applicable

You must have approval before you hire the custodian.

• § 69 Absätze 1 und 2 Kapitalanlagegesetzbuch (KAGB)
• § 80 Absatz 4 Kapitalanlagegesetzbuch (KAGB)

• Appeal.
• Detailed information on how to file an appeal can be found in the notice of your application.
• In the absence of remedy, administrative court action

There are no clues or specifics.

The text was automatically translated based on the German content.