Luxembourg: Transposition of EU directive, cross-border distributions of collective investment undertakings

Physical presence for the fulfilment of facilities services (in terms of payments and information provided investors) no longer required in Luxembourg

Cross-border distributions of collective investment undertakings

EU Directive 2019/1160—that concerns cross-border distributions of collective investment undertakings—was transposed on 2 August 2021 into Luxembourg domestic law.

Accordingly, physical presence for the fulfilment of facilities services (in terms of payments and information provided investors) is no longer required in Luxembourg, as of 2 August 2021.

  • The new measures amend earlier legislation for UCITS* (17 December 2010) and for AIFs** (12 July 2013).
  • A circular provides updated guidance about the notification procedures to be followed by a Luxembourg UCITS seeking to market its units in another EU Member State, and by a UCITS of another EU Member State seeking to market its units in Luxembourg.

Read an August 2021 report prepared by the KPMG member firm in Luxembourg


The KPMG member firm in Luxembourg also reported the following information regarding the cross-border distribution of funds:

 

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