setting up an investment fund in luxembourg ... - Casa4Funds

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definitions 1993 Law Law of 5 April 1993 on the financial sector, as amended 2002 Law Law of 20 December 2002 on undertakings for collective investment, as amended 2007 Law Law of 13 February 2007 on specialised investment funds, as amended UCITS Directive EU Savings Directive MiFID Directive Grand Ducal Regulation on eligible assets Circular 91/75 Circular 02/80 Circular 02/81 Circular 03/88 Circular 05/186 Council directive 85/611/EEC of 20 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), as amended Council directive 2003/48/EC on taxation of savings in the form of interest payments Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments Grand Ducal Regulation of 8 February 2008 relating to certain definitions of the law of 20 December 2002, as amended, concerning undertakings for collective investment and implementing directive 2007/16/EC of the European Commission implementing Council directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards the clarification of certain definitions CSSF circular 91/75 of 21 January 1991 on the revision and remodelling of the rules to which Luxembourg undertakings governed by the law of 30 March 1988 on undertakings for collective investment (“UCIs”) are subject 1 CSSF circular 02/80 of 5 December 2002 concerning the specific rules applicable to Luxembourg undertakings for collective investment (UCIs) pursuing alternative investment strategies CSSF circular 02/81 of 6 December 2002 concerning the task of auditors of undertakings for collective investment CSSF circular 03/88 of 22 January 2003 concerning the classification of undertakings for collective investment subject to the provisions of the law of 20 December 2002 relating to undertakings for collective investment CSSF circular 05/186 of 25 May 2005 concerning Luxembourg management companies subject to the provisions of chapter 13 of the law of 20 December 2002 relating to undertakings for collective investment, as well as self-managed investment companies subject to the provisions of article 27 or article 40 of the law of 20 December 2002 relating to undertakings for collective investment 1 The title of this circular has not been amended in order to take into account the fact that the law of 30 March 1988 has been replaced by the 2002 Law.
Circular 07/308 Circular 07/309 Circular 08/356 CSSF EEA EU FCP OECD Mémorial SICAV SICAF SIF TA UCI UCITS CSSF circular 07/308 of 2 August 2007 concerning the rules of conduct to be adopted by undertakings for collective investment in transferable securities with respect to the use of a method for the management of financial risks, as well as the use of financial derivative instruments CSSF circular 07/309 of 3 August 2007 concerning risk diversification in relation to specialised investment funds CSSF circular 08/356 of 4 June 2008 concerning the rules applicable to undertakings for collective investment when they employ certain techniques and instruments relating to transferable securities and money market instruments Commission de Surveillance du Secteur Financier (the Luxembourg supervisory authority of the financial sector) European Economic Area European Union Fonds Commun de Placement (common fund) Organisation for Economic Cooperation and Development The official gazette of Luxembourg, Mémorial C, Journal Officiel du Grand-Duché de Luxembourg, Recueil des Sociétés et Associations Société d’investissement à capital variable (investment company with variable capital) Société d’investissement à capital fixe (investment company with fixed capital) Specialised investment fund, subject to the 2007 Law Transfer agent Undertaking for collective investment, subject to Part II of the 2002 Law Undertaking for collective investment in transferable securities, subject to Part I of the 2002 Law 5
Page 1: investment management setting up an
Page 6 and 7: I. legal framework for setting up a
Page 8 and 9: Part I (UCITS) Part II (UCIs) 3. Tr
Page 10 and 11: Part I (UCITS) Part II (UCIs) which
Page 12 and 13: III. specialised investment funds (
Page 14 and 15: IV. available structures The 2002 L
Page 16 and 17: One or more classes of shares or un
Page 18 and 19: V. main players 1. The management c
Page 20 and 21: 3. The central administration agent
Page 22 and 23: VII. taxation 2002 Law 2007 Law Sub
Page 24: VIII. once-off and ongoing costs at
Page 28: ALFI thanks Arendt & Medernach, whi

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