On 30 April 2009 the European Commission has proposed a “Directive on Alternative Investment Fund Managers” (AIFM), which aims to create a comprehensive and effective regulatory and supervisory framework for AIFM in the European Union.

During recent months this draft directive has been intensively discussed, both at an industry and at a political level.

Once set in force, it will harmonize and radically modify the regulatory framework which the European alternative investment fund industry has to comply with. If implemented in anything close to its current form, all managers of alternative investment funds will need to review and adapt their existing set-ups and the way they operate. This new regulation will have a massive impact on the existing business models.

In this context, PwC ACADEMY is pleased to offer this half-day training dedicated to understanding the major foreseeable changes resulting from the proposed AIFM Directive and to explaining issues which will impact the various actors in the Luxembourg Fund industry.

Upon completion of the training course, participants will be able to:

• Describe the starting point and objectives of the draft Directive
• Explain the most important provisions resulting from the proposed AIFM Directive
• Identify the potential issues impacting their business and take appropriate actions
• Assess potential consequences on re-domiciliation

• Objectives of the proposed AIFM Directive
• Key provisions of the proposed AIFM Directive
     - Scope
     - Authorisation
     - Capital requirements
     - Marketing provisions
     - Valuation
     - Depositary
     - Delegation
     - Reporting and disclosure
     - Leverage
     - Third country provisions
• Process and timeline
• Potential implications for the funds industry
     - from a high-level perspective
     - from a sectorial perspective (Hedge Funds, Private Equity, Real Estate/Infrastructure)
     - from a jurisdictional perspective
• Potential consequences on re-domiciliation

• Chief Financial Officers (CFOs)
• Fund Managers
• Personnel and executives working for a legal department
• Fund services providers
• Fund Promoters

This training is coordinated by Didier Prime and Michael Daemgen, respectively Alternative Investment Leader and Regulatory and Compliance Advisory Services Director, PricewaterhouseCoopers Luxembourg. It will be animated by PricewaterhouseCoopers experts involved in AIFM Directive issues.

English

20 for optimum interactivity

One half day

The premises of PwC ACADEMY located 400, route d’Esch, Z.I. Cloche d’Or, Luxembourg-Gasperich.

An invoice will be sent to you at the end of the training.

For organisational purpose or in case of absolute necessity, we reserve the right to delay or cancel training events. In such cases, participants will be advised at the latest five business days before the event.

Any cancellation should be communicated in writing at the latest five business days before the event. Thereafter, full fees will be invoiced. Substitution of one participant by another is possible and can be done at any time upon written notice.

An attendance certificate will be sent to participants.

The modules described here can be organised in your premises or can be adapted to your specific needs. Do not hesitate to contact us if you are interested by tailored solution.

Registration fees are eligible for State co-financing in accordance with the legislation relating to the support and development of continuing vocational training. PwC ACADEMY is authorised as a provider of continuing vocational training under registration number 94523/C.