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By Robert WHITE, EY Luxembourg Partner, Europe West Wealth and Asset Management Assurance Leader
A market doubled in size in 10 years
The original Alternative Investment Fund Managers Directive (AIFMD I) came into force in early 2013. Its arrival ignited debate across Luxembourg with many stakeholders flagging its scope (too broad) (“Isn’t it just meant for hedge funds?”) or expressing concern about potential disruption to well-established operating models. The perceived threat of “double regulation” with new manager-level rules layered atop existing product-level oversight, loomed large, prompting fears of increased compliance burdens and reduced agility.
Yet, rather than stifling innovation, AIFMD...
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