The law of 12 July 2013 relating to investment managers of alternative investment funds (the “Law”) was published in the Memorial A N° 119 on 15 July 2013. The CSSF has published the Law on their website. To access the Law please click here.
On 17 May 2018, ALFI and ABBL have issued a revised version of the Guidelines and recommendations for depositaries. This second release is an update aimed at covering UCITS, as well as improving certain sections of the initial guidelines published in July 2013 which were covering oversight duties and cash monitoring for AIFs.
On 17 may 2018, ALFI has published an aide-mémoire for the benefit of the Real Estate risk management world, which aims at proposing a list of practical considerations suitable for liquidity stress testing purposes for Real Estate Investment Funds.
On 27 April 2018, ALFI published issue 1 of its Q&A document on the General Data Protection Regulation (GDPR), which will apply from 25 May 2018.
ALFI publishes Principles for the Oversight of Financial Intermediaries in Distribution of Funds guidelines- Publications
The Association of the Luxembourg Fund Industry (ALFI) has published a set of Principles for the Oversight of Financial Intermediaries in Distribution of Funds, in line with its mission to help members capitalise on industry trends and to encourage professionalism, integrity and quality within the Luxembourg fund industry.
These joint recommendations have been prepared by representatives of ALFI and ILA’s working group specifically dealing with VAT on the remuneration of directors of UCIs and their management companies. The working group comprises independent directors, representatives of management companies, audit firms and law firms. ALFI and ILA hope that this document will serve their members as a reference document.
The Reserved Alternative Investment Fund (RAIF) vehicle combines the characteristics and structuring flexibilities of Luxembourg regulated specialised investment funds (SIFs) and investment companies in risk capital (SICARs) qualifying as AIFs managed by an authorised AIFM, except that RAIFs are not subject to CSSF approval before they are launched. This permits the achievement of a significantly enhanced time-to-market for new fund launches.
Luxembourg Caisse de Consignation publishes FAQs regarding immobilisation of bearer shares and units- Publications
On 5 February 2016, the Luxembourg Caisse de Consignation published Frequently Asked Questions regarding the Law of 28 July 2014 on the immobilisation of bearer shares and bearer units.
New questions regarding the "UCITS V" implementation