Conclusion of a framework agreement with a suitable auditing company to carry out the annual audits for FMS-WM and FMS-SG as well as related ancillary and other confirmation services with a suitable auditing company. The beneficiaries are FMS-WM and FMS-SG and, if applicable, other affiliated companies of FMS-WM. Further details can be found in document B.1 Description of services.
The framework agreement to be concluded is concluded between FMS-WM and the auditing company. FMS-SG and other affiliated companies of FMS-WM are entitled to purchase under this framework agreement. While the framework agreement covers the general obligations of the auditing company, a separate commissioning takes place every year from the bodies responsible for the respective companies. The assignment is at the sole discretion of the company concerned. The term of the framework agreement is 4 years, i.e. for the annual audit services from 2023 to 2026 inclusive.
Details on the description of services can be found in document B.1 Description of services.
The FMS Wertmanagement AöR (FMS-WM) is an organizationally and economically independent, partially legally competent public-law institution within the Federal Agency for Financial Market Stabilization (FMSA). On October 1, 2010, FMS-WM took over risk positions and non-strategic business areas from Hypo Real Estate Holding AG and its direct and indirect subsidiaries and special purpose entities in Germany and abroad (together the HRE Group). The aim of the FMS-WM is the profit-oriented utilization and processing of the acquired assets for the purpose of stabilizing the financial market and the HRE group as well as the processing according to economic principles.
FMS Wertmanagement Service GmbH (FMS-SG), a 100% subsidiary of FMS-WM, acts as a service provider for FMS-WM for its portfolio and the associated refinancing funds; the service comprises the 3 segments Asset Management, Finance & Risk and Operations & IT. FMS-SG currently has branches in New York and Dublin. The New York branch is scheduled to close in 2023. FMS-SG is licensed as a financial services institute and is authorized to provide investment advice, investment and contract brokerage as well as financial portfolio management. At the moment, she provides investment advice and brokerage exclusively to FMS-WM. The investment brokerage and financial portfolio management are currently not provided. In future, FMS-SG will be treated as a securities institute.
Further information on FMS-WM and FMS-SG is available at www.fms-wm.de and www.fms-sg.de.