BaFin publishes revised circular and checklist for depositors

On 30th June 2022, BaFin published an extended version of its "Information Sheet on the Prohibition of Blind Pool Constructions under the German Capital Investment Act". (hereinafter the "BaFin Circular").

The new version of the BaFin circular contains new categories of investment objects that have arisen in audit practice and require uniform application as well as contain simplifications for providers of investment assets:

• New category for large properties (packing stations);
• New category for online trading of small goods;
• Renewable energy category:
  Providers who already know the specific location of their assets will in future only have to provide the specific address, among other things, and no longer certain location conditions;

• Real estate category:
  BaFin has reduced the previous criteria for individual investment objects in some places, especially for the category real estate, in order to facilitate the application of the law;

• In order to be classified as a blind pool, it will no longer be necessary in future to provide information on the state of refurbishment, a land register entry or the existing letting, including the occupancy rate.

The BaFin circular is primarily aimed at providers and issuers involved in the issuance of asset investments.

With a checklist published at the same time, BaFin also wants to provide assistance to you and the depositors.