The updated German Investment Ordinance entered into force on 22 April 2016. The changes incorporated in the Investment Ordinance mostly result from amendments due to an update of the German Insurance Supervisory Act (“Versicherungsaufsichtsgesetz”) as a consequence of the transformation of the Solvency II Directive and include several editorial adjustments. The new Investment Ordinance is not directly applicable to insurance companies with a gross premium income of over EUR 5 Million which is in line with the Insurance Supervisory Act.