ALFI response to the European Commission’s "Exposure Draft" on initial orientations for discussion on possible adjustments to the UCITS Directive
The Association of the Luxembourg Fund industry (ALFI) is the representative body of the Luxembourg fund industry. Its membership includes funds as legal entities and professionals of the fund sector, among which depositary banks, fund administrations, transfer agents as well as asset managers. ALFI welcomes the opportunity to comment on the above-mentioned consultation paper and wishes to congratulate the European Commission for the considerable efforts it has made to address the key issues facing the investment fund industry. ALFI is of the opinion that the Exposure Draft offers balanced solutions to these crucial questions.