The implementation of AIFMD in Luxembourg
The law of 12 July 2013 on alternative investment funds (the law) implements in Luxembourg the provisions of the Directive 2011/61/EU of 8 June 2011 on alternative investment fund managers (AIFMD).
Instead of regulating funds as a product, which is the approach for the Undertakings for Collective Investment in Transferable Securities, the law tends to regulate the managers of alternative investment funds, whose risky strategies and unco-ordinated supervision were considered by the EU Legislator as one of the reason of the latest difficulties in financial markets…
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