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On 24 August 2012, the bill of law (the "Bill") transposing the alternative investment fund managers directive ("AIFMD") was submitted to the Luxembourg Parliament for approval. Besides transposition, the Bill aims to introduce a number of innovations that are designed to facilitate and improve the development of the alternative investment fund industry (for more information on the innovations introduced by the Bill, see our Newsflash of 31 August 2012) and for more information on the professional depositary of assets other than financial instruments, see our Newsflash of 12 September 2012).
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