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ILN Today Post

Update on Liechtenstein

Just as Directive 2009/65/EC has replaced the previous UCITS III directives on a European level and has led to a total revision of European fund legislation, the Liechtenstein UCITS Act represents a complete change in the existing legislation in this sector and replaces the relevant provisions of the Liechtenstein Act on Investment Undertakings (IUG) of 2005 previously applying. For the time being the provisions of the IUG will only remain in force until the Alternative Investment Fund Mangers Directive (AIFM) which came into effect in the European Union on 21.07.2011 has also been incorporated into national Liechtenstein law. Its incorporation has been scheduled by the Liechtenstein Government for 2012.


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