CSSF’s end of year report for AIFM approval 23 July 2014Luxembourg Reporter: Catherine Van de Stouwe
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As of 22 July 2014, the Commission de Surveillance du Secteur Financie (CSSF) had received a total of 773 applications submitted according to the 12 July 2013 law on alternative investment fund managers (AIFM) with a total of 215 requests for authorisation and 558 requests for registration.
Out of the 215 requests, 151 entities have been approved as AIFMs from the 22 July 2014 deadline.
According to the CSSF, those who are still awaiting authorisation are linked to entities, which were not active in the field of alternative investment funds before 22 July 2013 and are not subject to the provisions of the transactional period.
In relation to the 215 requests, 105 were from existing UCITS management companies, 48 from non-UCITS management companies and 62 from other existing or newly created entities.
A total of 487 entities have been granted the status of registered AIFM under the provisions of Article 3(2) of the AIFM Law as of 22 July 2014. The remaining 71 applications for registration are either incomplete as of the 22 July 2014 deadline or have been withdrawn by the applicant.
Existing non-UCITS management companies that have not applied for authorisation or registration in Luxembourg have designated, or are in the process of designating, a third-party AIFM established within the EU.
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