Collective Investment Schemes in Luxembourg - Law and Practice

Provides the only analysis of the regulatory framework applicable to collective investment schemes in the important financial centre of Luxembourg Contains a systematic and comprehensive account of the law and regulations applicable to Luxembourg funds Includes guidance on the key EU Directives relating to collective investment schemes Written by leading investment fund practitioners based at a Luxembourg firm specializing in funds and fund-related matters New to this edition Contains coverage of the latest developments on the AIFM Directive Addresses the Act of 13th February 2007 (Luxembourg) relating to specialized investment funds, and the Act of 17th December 2010 (Luxembourg) on undertakings for collective investment Covers all relevant new guidance issued at EU level, including the UCITS IV Level II measures Explores the new positions adopted by the Luxembourg tax authorities This book is the only analysis of the legal regime governing collective investments in the important financial centre of Luxembourg. Written by expert practitioners from a leading funds practice, it provides a detailed, comprehensive, and practical account of the regulation and operation of investment funds under Luxembourg law. Beginning with a definition of undertakings of collective investment funds and a description of the background to the relevant legislation, the authors go on to provide a detailed account of how undertakings for collective investments are classified and how they operate in practice. Covering all relevant EU Directives including the UCITS Directives, Prospectus Directive, MiFID, and the Savings Directive, the authors also consider the application of these Directives under Luxembourg law. The latest developments on the AIFM Directive are also addressed. A comprehensive and systematic account, this new edition is an important reference source for all practitioners and investment managers regularly dealing with Luxembourg investment funds, as well as providing an exceptional introduction to this area of the law. Readership: The primary market consists of private practice and in-house lawyers advising on investment funds. The secondary market includes the service industries (such as auditors) and fund managers.

1: Introduction 2: Supervision of AIFM established in Luxembourg 3: Permitted activities for undertakings for collective investment 4: Establishment of undertakings for collective investment 5: Securities issued by undertakings for collective investment 6: Parties involved in the operation of undertakings for collective investment 7: Marketing the units or of undertakings for collective investment in the Grand Duchy of Luxembourg 8: Supervision of undertakings for collective investment 9: Dissolution and restructuring of undertakings for collective investment 10: Undertakings for collective investment and criminal law 11: Undertakings for collective investment and tax law 12: Undertakings for collective investment and European law 13: Risk capital investment companies 14: Securitisation vehicles