Our publications
BSP’s lawyers regularly share their knowledge through regular legal updates, newsletters and professional publications.
Latest Newsletters & Newsflashes
Jul 10, 2024UCITS | UK publishes OFR regulation confirming equivalence of EEA UCITS
Introduction On 14 May 2024, the UK Government released official Regulations confirming its equivalence decisions regarding EEA states under the UK's Overseas Funds Regime (OFR). An explanatory memorandum, providing further clarification, accompanied the Regulations The Regulations take effect on 16
Jul 10, 2024UCITS | ESMA call for evidence on the review of the Commission Directive 2007/16/ec on UCITS Eligible Assets
On 7 May 2024, ESMA published a call for evidence on the review of the Commission Directive 2007/16/EC on UCITS Eligible Assets (the “ UCITS EAD”). Background Under Directive 2009/65/EC of 13 July 2009 (the “ UCITS Directive”), a UCITS fund is permitted to invest only in specific asset classes
Jul 10, 2024AIFM / UCITS | ESMA on performance fees
ESMA updates its Q&A on costs and fees ESMA published on 8 and 24 May 2024 further responses to questions on the application of performance fees, expanding their Q&A on costs and fees . The Q&A concern the application of a minimum performance reference period to additional reference indicators and
Jul 10, 2024CSSF Circular 24/856 | Investor protection in the event of NAV calculation error and non-compliance with investment rules
Published on 28 March 2024 this circular enters into effect on 1 January 2025 and replaces CSSF Circular 02/77. CSSF Circular 24/856 aims at extending and codifying the rules applicable to Luxembourg investment funds in the event of a NAV calculation error, an investment breach or other errors that
Jul 09, 2024UCITS I CSSF updates FAQs in response to US settlement cycle changes
On 20 June 2024, the CSSF has released an update on its Frequently Asked Questions concerning Circular CSSF 02/77 on protection of investors in case of NAV calculation errors, non-compliance with investment rules and other types of errors at UCI level (which will be replaced by Circular CSSF 24/856
Jul 01, 2024ESG | ESMA issues final report on fund names guidelines
Harmonised criteria for ESG and sustainability terms in fund names The European Securities and Markets Authority (“ ESMA”) has published the final report on fund names guidelines. The aim is to prevent “greenwashing” by ensuring that environmental, social and governmental (“ ESG”) criteria and
Latest Brochures
Feb 12, 2024ELTIF in a nutshell
The ELTIF was created by Regulation (EU) 2015/760 on European Long-term Investment Funds of 19 May 2015 (and effective from 9 December 2015) (the “ ELTIF 1 Regulation”). The European Long-Term Investment Fund (“ ELTIF”) is a type of collective investment framework allowing investors to invest money
Jun 01, 2023BSP General Brochure
In this brochure you will find the description of all the activity that we can put in place for you. BSP is an independent full-service law firm based in Luxembourg, committed to providing the very best legal services to our domestic and international clients in all aspects of Luxembourg business
Jul 28, 2022RAIF | Reserved Alternative Investment Funds
This leaflet presents a focus on the Reserved Alternative Investment Fund (RAIF), a new and flexible alternative investment vehicle approved by the Law of 23 July 2016, which entered into force on 31 August 2016 (the RAIF Law). The RAIF Law creates a new type of unregulated fund which has many of
Jul 27, 2022Investment Management Brochure
Our new Investment Management practice brochure includes our expertise in this market and all the specificities of investment vehicles in Luxembourg. Our team has a strong and well-established expertise in all areas of investment funds law. At a time of increasing and changing regulation, we ensure
Latest Articles & Books
Feb 12, 2024Chambers | Investment Funds 2024 Guide
The Investment Funds 2024 guide covers 20 jurisdictions. The guide provides the latest information on alternative investment funds and retail funds, including fund formation, restrictions on investors, the regulatory environment, operational requirements and the tax regime. Law and Practice 1
Jul 05, 2023Decision Makers - Luxembourg 2023
Now in its 15th edition, Decision Makers play a key role in helping to promote Luxembourg as the heart of the funds industry in Europe: Evelyn Maher (BSP): Navigating life’s contrasts Evelyn Maher, Head of Investment Management at the Luxembourg legal partnership Bonn Steichen & Partners, has
Apr 21, 2023IR Global | Luxembourg: the jurisdiction of choice for your fund vehicle
Luxembourg is the second largest fund centre in the world after the United States and offers a vast range of investment vehicles. In this article, we set out the advantages associated with choosing Luxembourg as the jurisdiction for your fund vehicle, and provide a brief introduction to the various
Feb 14, 2023Chambers | Investment Funds 2023 Guide
The Investment Funds 2023 guide covers 15 jurisdictions. The guide provides the latest information on alternative investment funds and retail funds, including fund formation, restrictions on investors, the regulatory environment, operational requirements and the tax regime. Law and Practice 1
Feb 01, 2023Thomson Reuters Practical Law | Quick Compare Chart: Establishing a Fund Manager
Thomson Reuters has published have published a multi-jurisdictional Quick Compare Chart, Establishing a fund manager. This chart compares the approach of different jurisdictions towards the authorisation of fund managers. Among other things, it considers the key legislation governing the
Oct 27, 2022Chambers T&D | Alternative Funds 2022
Amendments to the ELTIF Regulation: A New Attractiveness for ELTIFs? The European Long Term Investment Fund (ELTIF) was created by Regulation (EU) 2015/760 of the European Parliament and of the Council of 29 April 2015 on European long-term investment funds (the “Regulation”), which has been
Latest Videos
Sep 21, 2023Towards the modernisation of the Luxembourg fund industry
Sep 01, 2022Investment Funds Industry in Luxembourg