The Commission de Surveillance du Secteur Financier (“CSSF”) issued on 10 August 2015 an updated version of the frequently asked questions (the “FAQ”) relating to the Luxembourg law of 12 July 2013 on alternative investment fund managers (the “AIFM Law”).
In particular the following topics are covered and clarified in this version of the FAQ:
- concept of reverse sollicitation;
- role and functions of professional depositaries of assets other than financial instruments;
- ability for credit and investment firms to assume the role of alternative investment fund managers; and
- initial capital and own funds requirements.
For more detailed information, please feel free to consult the updated version of the FAQ issued by the CSSF.