On 16 May 2013, the German Parliament (Bundestag) passed the final version of the Alternative Investment Fund Managers Directive Implementation Act ("AIFM-UmsG"). On 7 June 2013, the final version was also approved by the Bundesrat. The final version contains various amendments compared to the version the Government had proposed. However, these changes are of a minor nature given that the overall principles introduced have not been altered. The new law that governs all fund managers and fund product rules is called “Kapitalanlagegesetzbuch” ("KAGB").