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AIFMD News Alerts

Our AIFMD practice provides news alerts on the Alternative Investment Fund Managers Directive and its evolution on a regular basis.

You can find and download below these news alerts in PDF format.

2014

25 February 2014 AIFMD key updates - hot off the press
Focus on clarification published by ESMA on the remuneration rules, the updated CSSF FAQ as well as the European Commission Q&A on MiFID services passporting.
24 January 2014 Austria - New tax issues for mutual funds
In the course of the implementation of the AIFM Directive (2011/61/EU) into national law, two major changes with regard to taxation of mutual funds have been incorporated in the Austrian Mutual Fund Act.
21 January 2014 AIFMD CSSF's updates
We would like to inform you that the CSSF published on 10 January 2014 its updated FAQ concerning the Luxembourg 2013 Law on AIFM.

2013

2 December 2013 German Bundestag has adopted the draft law for the AIFM
On Thursday 28 November 2013, the German Bundestag (Lower House of Parliament) has adopted the draft of the AIFM Tax Amendment Act (“AIFM – Steueranpassungsgesetz”) which was introduced by the German Bundesrat beginning of November 2013.
20 November 2013 German Investment Tax Act - New draft law for AIFM implementation has been presented
On 8 November 2013, the German Bundesrat (Upper House of Parliament) voted on a new draft law dealing with outstanding amendments of the German Investment Tax Act (“GITA”) in order to adjust tax regulations to match with new provisions introduced by the capital investment law code(“Kapitalanlagegesetzbuch”).
31 October 2013 AIFM License Application Assistance
On 18 July 2013, the CSSF published its practical guidance in relation to the registration and authorisation of Alternative Investment Fund Managers (AIFM) established in Luxembourg, in accordance with the Luxembourg Law of 12 July 2013 on Alternative Investment Fund Managers (“AIFM Law”).
3 October 2013 ESMA issued guidelines, AIFMD reporting must now change gears and accelerate
ESMA has finally issued its much awaited guidance and recommendations on the reporting requirements under AIFMD. The ESMA consultation on reporting, which closed on July 1, raised much market interest and comment, not least for the interaction with other transitional provisions for implementation but also for the extremely tight potential timeline to put all in place to meet the deadline.
5 September 2013 German Tax Act - AIFM tax implementation finally failed
On 3 September 2013, in its last conference before the parliamentary elections to be held on 22 September 2013, the German Bundestag (Lower House of Parliament) did not vote on outstanding amendments to the German Investment Tax Act (“GITA”) in order to adjust tax regulations to match with new provisions introduced by the capital investment law code (“Kapitalanlagegesetzbuch”), replacing the German Investment Act (“GIA”).
23 July 2013 CSSF practical guidance on the registration or authorisation under the AIFM Law of AIFM established in Luxembourg.
The CSSF published on 18 July 2013 its practical guidance in relation to the registration and authorisation under the Luxembourg Law of 12 July 2013 on Alternative Investment Fund Managers (hereinafter the "AIFM Law") of manager of alternative investment funds (hereinafter "AIFM") established in Luxembourg.
10 July 2013 Vote of “the AIFMD law”: the new Luxembourg “App” for funds and managers
Luxembourg Parliament has just approved the draft law n°6471 transposing the EU Alternative Investment Fund Managers Directive into national law (hereafter “the AIFMD law”).
10 July 2013 Luxembourg Parliament has voted the Law implementing AIFMDs
The Luxembourg Parliament has voted today the transposition law for the Alternative Investment Fund Managers Directive (AIFMD). Due the Government’s strong commitment to meet the deadline for transposition, the law shall come into force on 17 July.
8 July 2013 ESMA guidelines finalised on key concepts of AIFMD
The European Securities and Market Authority (ESMA) published its final guidelines on the Alternative Investment Fund managers Directive (AIFMD) on 24 May 2013.
21 June 2013 AIFMD / CSSF's FAQ publication
On 18 June 2013 the CSSF published a list of Frequently Asked Questions (FAQs) concerning the Luxembourg 2013 Bill on alternative investment fund managers as well as the Commission Delegated regulation (EU) No 231/2013 of 19 December 2012 supplementing the AIFMD.
6 June 2013 AIFMD Reporting Consultation Document
AIFMD reporting guidelines
In issuing its consultation paper on reporting guidelines ESMA provides guidance on transitional aspects, format and detail of the reporting.
31 May 2013 Commission issues AIFMD implementing regulations
The European Commission published on 15 May 2013 two implementing regulations.
3 April 2013 AIFMD: European Commission releases Q&A document (German version)
Commission's Q&A Document - Key considerations
On 27 March 2013, the European Commission published on its website a series of questions and answers on the application of the Alternative Investment Fund Managers Directive (AIFMD Directive 2011/61/EU).
14 February 2013 ESMA final report Guidelines on sound remuneration policies under the AIFMD
On 11 February, the European Securities and Markets Authority (ESMA) published its final report setting out guidelines for the remuneration of alternative investment fund managers (AIFMs) under the Alternative Investment Fund Managers Directive (AIFMD).

2012

20 December 2012 AIFMD: The level 2 regulation for Christmas
Commission’s Level 2 Regulation – key impacts
The European Commission published yesterday (19 December 2012) its long-awaited Regulation that will provide the basis for implementing the Alternative Investment Fund Managers Directive (AIFMD) across the EU by 22 July 2013. The Directive, or Level 1 text, entered into force in July 2011 and the Commission’s Level 2 Regulation now provides the detailed measures for compliance.
28 August 2012 AIFMD: Draft law submitted to the Luxembourg Parliament
What does this signify in the legislative process?
Each of the European Unions’ Member States has until 22 July 2013 to transpose the European Directive 2011/61/UE of the European Parliament and of the Council of the 8 June 2011 on Alternative Investment Fund Managers (the “AIFMD”) into national law.
15 June 2012 AIFMD: what has been the Swiss regulator’s response?
How has the Swiss regulator sought to align the Swiss Collective Investment Schemes Act (“CISA”) with the EU’s Alternative Investment Fund Managers Directive (“AIFMD”)?
1. What are the planned changes and their implications for the various investment management industry actors in Switzerland?
2. What are the hurdles for an EU AIFM delegating the investment management function to a Swiss asset manager?
3. What has been the reaction to this?
4. How will this affect you?
3 May 2012 AIFMD: Where are we in the process?
What is the current status of the Alternative Investment Fund Managers Directive (“AIFMD”)?

1. What are the “Level 2 Measures”?
2. What is a delegated act?
3. How will this affect you?

 

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