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ARTICLE · 23 MARCH 2017

Which Exemptions For AIFMs?

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In principal, all AIFM have to be authorized by the CSSF (the local regulator in Luxembourg) and appoint a depositary, under the rules of Directive 2011/61/EU of the European Parliament ...

European UnionFinance and Banking
Anelise Nigon
Anelise Nigon

In principal, all Managers of Alternative Investment Funds (AIFM) have to be authorized by the CSSF (the local regulator in Luxembourg) and appoint a depositary, under the rules of Directive 2011/61/EU of the European Parliament and the Council of 8 June 2011 on Alternative Investment Fund Managers (AIFMD), which was transposed into national law by the Luxembourg Law of 12 July 2013 on Alternative investment fund managers (AIFM Law).

However, a limited number of exemptions exist in term of the obligation of authorization from the CSSF.

Indeed, the first exemption concerns AIFMs that are only invested into by the AIFM or by its associates (as, for instances, parent, subsidiaries, and subsidiaries of the parent).

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