The act to implement the UCITS V Directive (Directive 2014/91/EU) in Germany (“Gesetz zur Umsetzung der Richtlinie 2014/91/EU des Europäischen Parlaments und des Rates vom 23. Juli 2014“) will enter into force on 18 March 2016. However, transitional provisions have already entered into force on 11 March 2016, on the basis of which BaFin is now competent to officially approve of fund rules for German UCITS which were amended in light of UCITS V.