On 16 January 2018, the Commission de Surveillance du Secteur Financier (CSSF) issued its updated AIFM application questionnaire.
The key updates concern:
- Section 3 on ownership and qualifying holding which has been amended to take into account the recent replacement of CSSF Circular 09/392 by CSSF Circular 17/669 adopting the Joint Guidelines of ESMA, EBA and EIOPA on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector;
- Section 5 on capital, financial and business information which has been amended for existing Chapter 15 management companies and new self-managed AIFMs. Their amount of own funds will have to be at least equal to the higher of (a) EUR 300,000 plus 0.02% of assets under management above EUR 20 million and (b) a quarter of the previous year's general expenses.
The updated application form is available via this 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.
