Luxembourg’s AIFM Directive transposition law comes into force

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The legislation transposing the European Union’s Alternative Investment Fund Managers Directive into Luxembourg law, approved by the grand duchy’s Chamber of Deputies last Wednesday 10 July, has come into force following its receipt of royal assent last Friday and publication on 15 July in the grand duchy’s official gazette, the Mémorial.

The provisions of the legislation, henceforth known as the law of 12 July 2013 on alternative investment fund managers, will apply from 22 July, the deadline for EU member states to adopt the directive into their national law.

However, Luxembourg-based fund managers will enjoy a transition period of up to one year to comply fully with the law’s conditions. On 18 June the Luxembourg regulator, the CSSF, issued a Q&A document outlining how the transitional provisions will apply…

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