Navigating PFAV with SimCorp's Legal Rule Sets

The financial regulatory environment is constantly changing, and it is essential for fund managers and investment professionals to stay informed about regulatory updates. This article highlights the latest developments in SimCorp’s Legal Rule Sets (LRS), providing insights into the new rules that have been introduced. 

Steering through the Pensionsfonds-Aufsichtsverordnung (PFAV)¹, SimCorp’s Legal Rule Sets Team has made considerable progress in response to the specific requirements of Germany’s fund landscape. Our goal was to enhance our services by developing a new Legal Rule Set that complies with the PFAV. 

A standardized approach

The German fund sector is complex and requires a nuanced understanding. The Legal Rule Sets Team has developed rules in line with the PFAV’s detailed regulations. These rules are designed to meet the challenges fund managers face, ensuring adherence to the latest regulatory standards. These rules are also built using already proven patterns, schemes, and standards that have been successfully implemented in over 1700 existing LRS rules.

How SimCorp's Legal Rule Set Service works 

SimCorp’s Legal Rule Set Service is an essential resource for fund managers. Initially launched to cover fund regulations in Germany, Luxembourg, and Switzerland², it has now been expanded to include regulations under the PFAV. Here is how it works: 

Immediate notifications:

The Legal Rule Sets team provides prompt updates to fund managers (SimCorp’s clients) whenever there are new rules or amendments. This keeps them well-informed about regulatory changes affecting their operations. 

Updates:

As the regulatory landscape evolves, so do the systems that enforce compliance. The Legal Rule Sets team informs clients about necessary system updates (modifications to the regulatory rules configured in the Compliance Manager system), enabling them to quickly adjust and remain compliant.

Compliance with Legal Rule Sets:

By incorporating these rules into their processes, fund managers can navigate the regulatory environment with confidence. The Legal Rule Set Service serves as a guide, leading them towards full investment compliance.

… and more

But these are not all the deliveries which come with the Legal Rule Sets. Please get in touch for a detailed service description.

¹ Pensionsfonds-Aufsichtsverordnung (PFAV): Ordinance on the Supervision of Pension Funds and on the Implementation of Defined Contribution Plans in Occupational Pension Schemes – Verordnung betreffend die Aufsicht über Pensionsfonds und über die Durchführung reiner Beitragszusagen in der betrieblichen Altersversorgung. 

² LRS covers regulations in following countries: Austria, Canada, France, Germany, Ireland, Italy, Luxembourg, Singapore, Switzerland, United Kingdom and USA. We also have a set of common EU rules.