Regulatory

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Regulatory articles

Private Credit: Back through the back door
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Private Credit: Back through the back door

The UK’s Prudential Regulation Authority (PRA) is examining how Barclays accounts for financing for private credit funds via total return swaps. The classification as trading book rather than banking book has implications for risk, capital and the close interdependence between banks and funds.

TÜV Rheinland certifies aedifion solutions in accordance with Section 56 of the GModG
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TÜV Rheinland certifies aedifion solutions in accordance with Section 56 of the GModG

TÜV Rheinland has certified aedifion’s solutions in accordance with Section 56(1)–(3) of the GModG. From 2030, the GModG will require further non-residential buildings with systems exceeding 70 kW to be automated. The modular solutions can be integrated without the need for refurbishment and support efficiency and ESG reporting.

DGNB certifies 60 properties in the Real I.S. portfolio as taxonomy-compliant
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DGNB certifies 60 properties in the Real I.S. portfolio as taxonomy-compliant

The DGNB has confirmed the taxonomy compliance of 60 properties in the Real I.S. portfolio, representing around 30 per cent of the portfolio. At Expo Real in Munich, DGNB President Prof. Amandus Samsøe Sattler presented the certification; the Europe Plaza in Stuttgart serves as a prime example.

RICS publishes new Asset Management Specifications
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RICS publishes new Asset Management Specifications

RICS Professional Group Asset Management in Germany has comprehensively revised the Asset Management Specifications and published the third edition. The focus is on ESG, digitalization and clearly defined performance and remuneration models.

Ready for Liftoff: gif e.V. publishes guideline for digital transformation in the real estate industry
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Ready for Liftoff: gif e.V. publishes guideline for digital transformation in the real estate industry

gif e.V. publishes the "Digital Transformation Guideline" as a practice-oriented framework for real estate companies. A transformation framework and a maturity model support the definition of goals, implementation and evaluation. Presentation at Expo Real 2026.

Bottermann::Khorrami: Prohibition of temporary rental in milieu protection areas is open to challenge
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Bottermann::Khorrami: Prohibition of temporary rental in milieu protection areas is open to challenge

The Administrative Court of Berlin ruled that temporary furnished rentals in milieu protection areas are a change of use subject to approval if the lease was previously indefinite. The lawsuit of an owner was dismissed. Lawyer Bottermann criticizes the ruling.

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Thinking economically about monument protection: BiB publishes new guideline on monument depreciation

The Association for Building in Existing Buildings (BiB) publishes a guide to monument depreciation. It explains in a practical way how tax benefits under §§ 7i/7h EStG can be used and emphasizes early coordination with the monument authority before construction begins.

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FGW e.V. publishes final document on component-based unit certification

On 03.09.2026, FGW e.V. published the final document of the Working Group on Component-Based Unit Certification. It describes a procedure with early component validation and an integrated, cost-efficient measurement and validation process for generation units and storage systems.

"Aengevelt: New BauCode NRW makes construction easier."
ArticleComment

"Aengevelt: New BauCode NRW makes construction easier."

North Rhine-Westphalia is amending the state building code: The new BauCode NRW will come into force on September 1, 2026. Aengevelt sees significant simplifications and cost-cutting potential in this – including fewer DIN obligations, more procedure-free projects, digital applications and fictional approval.

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Positions of civil society and business on the continuation of administrative reform

A broad alliance of business and civil society presents a joint position paper on the continuation of Berlin's administrative reform. It calls on the Senate and the House of Representatives to consistently continue the reforms until and after the election – with stronger districts, faster procedures and digitalisation.

William Baumol would have asked a question about the AI Act
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William Baumol would have asked a question about the AI Act

The AI Act creates a comprehensive legal framework for AI for the first time and brings strict requirements for governance, documentation, transparency and supervision. It could lower technological barriers to entry, but at the same time create new regulatory hurdles. Who benefits in the long term?

New all-time solar high in Germany: 12 billion kWh of solar power in one month for the first time – IWR explains misunderstandings about EEG subsidies
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New all-time solar high in Germany: 12 billion kWh of solar power in one month for the first time – IWR explains misunderstandings about EEG subsidies

In July 2026, photovoltaics in Germany fed 12 billion kWh into the public grid for the first time. At lunchtime, the average solar output was over 40,000 MW. The IWR explains misunderstandings about EEG subsidies and emphasizes the role of differential costs.

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