With the AIFMD being fully transposed into Luxembourg law, the CSSF now requires any person established in Luxembourg and potentially qualifying as AIFM to perform a self-assessment to:
- Evaluate whether it qualifies as an AIFM under the new AIFM law, and if yes
- Assess whether it falls under the authorization or registration requirements of the AIFM law.
This self-assessment has to be done in due time, since the CSSF is aiming at establishing an inventory of Luxembourg AIFM. All AIFM will need to provide the CSSF until 16 August 2013 at the latest with the following information:
- Name of the AIFM,
- Address of the AIFM,Information whether the AIFM is an Internal or
- External AIFM, and
- Information whether the AIFM requires authorization or registration with the CSSF.
Therefore, all non-regulated vehicles that are exclusively active in the investment sphere, all UCI under part II of the law of 17 December 2010, SIF under the law of 13 February 2007 and SICAR under the law of 15 June 2004 have to assess whether they fall under the AIFM regime, and whether authorization or registration with the CSSF is required.
For both authorization and registration, the CSSF has issued relevant forms available on its website. A duly completed application for authorization has to be submitted until 22 July 2014 at the latest. Where only registration is needed, the AIFM has to register with the CSSF immediately in case it has been performing activities falling under the new AIFM law before 22 July 2013.
If you need assistance in performing this assessment and/or report, register or seek authorization with the CSSF under the AIFMD, please do not hesitate Charles Muller or your usual KPMG contact person.