On 10 June 2021, the Luxembourg Financial Sector Supervisory
Authority (the CSSF) has issued new versions of
(i) its frequently asked questions (FAQs) relating
to the Law of 17 December 2010 on undertakings for collective
investment (the 2010 Law) and (ii) its FAQs covering the Law of 12
July 2013 on alternative investment fund managers (the 2013
Law).
Both FAQs have been updated following the publication of a FAQ
from the CSSF relating to the application of MiFID1.
provisions to Luxembourg Investment Fund Managers
(IFMs).
First of all, the CSSF has highlighted that collective portfolio
management of funds does not fall within the scope of
2.MiFID, if undertaken by IFMs themselves.
