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ARTICLE · 21 JUNE 2016

CSSF Confirms AIFs' Ability To Grant Loans In Updated AIFM Law FAQ

Chevalier & Sciales
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On June 9, 2016 the CSSF issued the latest update of its Frequently Asked Questions document on the Luxembourg law of July 12, 2013 implementing the AIFMD and the European Commission's Level 2 regulation on implementation of the directive, last revised on August 10, 2015.

LuxembourgFinance and Banking
Olivier Sciales
Olivier Sciales
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On June 9, 2016 the CSSF issued the latest update of its Frequently Asked Questions document on the Luxembourg law of July 12, 2013 implementing the AIFMD and the European Commission's Level 2 regulation on implementation of the directive, last revised on August 10, 2015.

The new version provides clarity about the ability of Luxembourg-domiciled alternative funds to conduct loan origination, participation and acquisition, an important issue given the role of Luxembourg as a leading centre for funds conducting or investing in loans.

The FAQ document, which has now run to 10 versions over the past two-and-a-half years, is intended to highlight aspects of the AIFMD rules from a Luxembourg perspective, for the benefit primarily of alternative investment funds and AIFMD-authorised managers established in Luxembourg. It complements Q&A documents on the AIFMD and its subsidiary legislation published by ESMA and by the European Commission.

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