The Luxembourg Government has adopted on 10 July 2015 the draft bill 6834 transposing the Directive 2014/91/EU1 (“the UCITS V Directive) and amending the Luxembourg law of 17 December 2010 relating to undertakings for collective investment, as amended (the “Bill”).
The Bill has been deposited by the Ministry of Finance on Wednesday 5 August 5 2015 with the Parliament Chambre des Députés) for discussion.
The UCITS V Directive and as such the Bill has to be transposed into Luxembourg law by 18 March 2016 at the latest.
We will shortly provide a summary on the Bill.
For more detailed information in the meantime, please feel free to consult the Luxembourg Government site: http://www.gouvernement.lu/5043432/10-conseil-gouvernement (only in French) and for the Bill Chambre des députés - Projet de loi 6845 (only in French).
1. Directive 2014/91/EU of the European Parliament and of the Council of 23 July 2014 amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards depositary functions, remuneration policies and sanctions, OJ 257 0f August 28, 2014, p. 186-213