Luxembourg publishes draft bill implementing AIFMD II

On 3 October 2025, the Luxembourg government submitted Draft Bill No. 8628 to Parliament, which implements the AIFMD II into Luxembourg law.

The AIFMD II addresses changes in market practices and regulatory experience that have emerged since the original AIFMD came into force in 2011. The draft bill follows the directive's provisions without adding extra requirements beyond what the EU legislation mandates. 

The bill expands the range of authorized services that alternative investment fund managers and UCITS management companies can provide. These now include credit servicing activities and benchmark administration. Fund managers will also be permitted to offer ancillary services to third parties, provided they maintain adequate frameworks for managing conflicts of interest.

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