On 14 August 2018 the CSSF published an updated version of its Frequently Asked Questions (FAQ) document on alternative investment fund managers (AIFMs).
The AIFM FAQ's latest issue amends the impact of the PRIIPs Regulation on Luxembourg AIFs in Section 23.
The obligation for Luxembourg AIFs advised on, offered or sold to retail investors to have in place a PRIIPs KID from 1 January 2018 under point 23.a) has not been altered. However, point 23.b), which specifies the applicability until 31 December 2019 of the exemption provided by Article 32(2) of the PRIIPs Regulation (the exemption of Article 32(2)) to have in place a PRIIPs KID for Luxembourg AIFs sold to retail investors that already issue a UCITS KIID, has now been amended. It shall apply to all UCITS KIID issued rather than exclusively to UCITS KIID issued prior to 1 January 2018.
The AIFM FAQ is available via the following web link.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
