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ARTICLE · 15 NOVEMBER 2016

CSSF Updates AIFMD Q&A

KPMG Luxembourg
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On 9 June 2016, the CSSF issued an updated version – number 10 – of its Questions & Answers (Q&A) document on the Alternative Investment Fund Managers Directive (AIFMD).

LuxembourgFinance and Banking
Gabrielle Jaminon
Gabrielle Jaminon
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On 9 June 2016, the Commission de Surveillance du Secteur Financier (CSSF) issued an updated version – number 10 – of its Questions & Answers (Q&A) document on the Alternative Investment Fund Managers Directive (AIFMD).

The update introduces guidance on loan origination by AIFs in Luxembourg. The CSSF confirms that the loan origination activity is permitted for AIFs in Luxembourg since neither the law transposing the AIFMD (AIFM Law) nor the different product laws applying to alternative funds, if applicable, forbid such activity. Certain specific EU product regulations such as the European Long Term Investment Funds (ELTIF), the European Venture Capital Funds (EuVECA) and the European Social Entrepreneurship Funds (EuSEF) regulations, even explicitly allow these AIFs to originate loans.

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