Responsibilities of board members and conducting officers of fund management companies

The regulatory framework describing the roles and responsibilities of managing directors and control functions in Luxembourg AIFMs has evolved considerably in the last few years.

On national level, the new CSSF circular 18/698 regarding the authorization and organization of Luxembourg AIFMs strengthens the applicable regulatory requirements. It emphasizes the importance of proper governance and management control in AIFMs.

This course is designed to bring the participants up to speed with the latest governance responsibilities.

17 June 2021 (ENG) - 2pm-4pm

Price: 300.00 €

Duration: 2h

Language: English

Number of participants: 20


By the end of this training, the participants will be able to:

  • Describe the organizational requirements and governance framework applicable to an AIFM;
  • Define the impacts of the new Circular on the key practical tasks which are incumbent to a director, conducting officer and control functions in an AIFM.


  • Authorised scope of activities of an AIFM;
  • Members of the board of directors of an AIFM;
  • Risk management in an AIFM: Role of the risk officer, management committee and board of directors;
  • Compliance Function in an AIFM: Role of the compliance officer, management committee and board of directors;
  • Internal Function in an AIFM: Role of the internal auditor, management committee and board of directors;
  • Control of delegated tasks;
  • Procedure for approval of new business relationships and new products;
  • AIFM vs AIF - allocation of roles.

Target audience

  • Conducting officers in AIFMs;
  • Managing directors in AIFMs;
  • Control functions in AIFMs.

Our lead experts

This training is coordinated by Xavier Balthazar, Partner in charge of Regulatory Advisory, from PwC Luxembourg.

​Xavier is a Partner in the regulatory practice in PwC Luxembourg, with substantial expertise in financial sector and funds’ regulations.

He participated to many set ups and restructurings of investments funds, management companies and professionals of the financial sector in Luxembourg and abroad, including the definition of their organisation, processes and procedures.

He is also a regulatory compliance expert for depositary banks and fund administrations.

Contact us

Contact details

PwC's Academy, Crystal Park Building, PwC Luxembourg

Tel: +352 49 48 48 4040

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