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Although Member States have until the 22 July 2013 at the latest to transpose the AIFMD, Luxembourg’s authorities published their draft proposal on the 24th of August 2012 to be subject to a vote by the Parliament. This marks the first official and public step for the transposition of the AIFMD. Ideally to preserve a first mover advantage, the law should be passed as soon as possible so that stakeholders both in Luxembourg and across the globe have time to position themselves in view of the new architecture that will regulate most non-UCITS funds in Luxembourg. To complete the framework, however, Luxembourg, like other member states, still needs to see the level 2 measures, which are not yet out. Although they should have been published, according to an optimistic scenario, sometime in...
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