|
By Yindong HU, Legal Officer Francois-Xavier Le CORRE, Senior Manager, MC Square S.A.
On 29 September 2025, the Government approved a bill to transpose Directive (EU) 2024/927 (“AIFMD II / UCITS update”) and filed it on 3 October 2025. The bill amends the 2010 UCI Law and the 2013 AIFM Law. Its direction is clear: preserve the European delegation model, strengthen liquidity governance, clarify custody chains, expand reporting, and crucially create a harmonized framework for loan-originating AIFs.
Within that common EU framework, Luxembourg also exercises certain national discretions to reflect local policy choices and market practice. These changes are material and warrant close attention from managers and service providers.
...
|