Alternative Investment Funds in Europe: Law and Practice by Lodewijk van Setten and Danny Busch

Author:Lodewijk van Setten and Danny Busch
Language: eng
Format: epub
Publisher: Oxford University Press
Published: 2014-07-15T00:00:00+00:00

B. Criminal law consequences

[4.82] In accordance with the general rule that violations of financial regulatory requirements are not sanctioned as a criminal offence in Germany, violation of the German provisions implementing Chapter V of the AIFMD (AIFMs managing specific types of AIF) is not a criminal offence under German law. Therefore, no criminal sanctions can be applied for mere violation of these regulatory provisions. Criminal sanctions may apply in cases of fraudulent behaviour, ie if the violation of reporting requirements is an element in actions aiming at defrauding investors.

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