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By Eduard von KYMMEL, Head of VP Fund Solutions *
The Luxembourg supervisory authority Commission de Surveillance du Secteur Financier (CSSF) is further tightening its substance and governance requirements. Thereby, the hurdles to operate a Management Company (ManCo) in Luxembourg are further enhanced. A critical size or an outsourcing relationship to service providers is not only essential to break even, but also to cope with the upcoming new regulatory requirements and to remain compliant.
Circular 18/698
The Luxembourg supervisory authority CSSF released a new Circular on the Substance Requirements of Luxembourg ManCos applying to alternative investment fund managers (AIFMs), as well as management...
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