IFM – Tied agent notification forms

A tied agent in Luxembourg is an entity or natural person that acts on behalf of an investment firm or AIFM within the meaning of Article 1(1) of the Luxembourg law of 5 April 1993 on the financial sector. Tied agents are allowed to be used by AIFMs according to the Law of 21 July 2023 that modernized its fund toolbox.
In this context, three forms on informations concerning tied agents have been published:
##### IFM – Tied agent notification form on Additional information to be provided
This form, together with the IFM – Tied agent notification and change of tied agent particulars notification form, must always be attached to any notification of the use of a tied agent.
Four cases are listed: Case No 1 involves the Investment Firm Manager (IFM) utilizing a tied agent based in Luxembourg to provide financial services specifically within Luxembourg. In Case No 2, the IFM intends to employ a tied agent located in Luxembourg to offer financial services, not within Luxembourg, but in another EU Member State. Case No 3 sees the IFM planning to use a tied agent in a host Member State, treating the tied agent’s services as equivalent to those of a branch established in that specific host Member State. Finally, Case No 4 entails the IFM intending to use a tied agent in a host Member State for financial services, without the formal establishment of a branch in that host Member State.
Of note, for the above cases No 2 and No 3, Section 7. Notification process – IFM intends to use a tied agent for the provision of services in another EU Member State has also to be completed.
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##### IFM – Tied agent notification form for the cessation of the use of a tied agent in another Member State
This form, together with the IFM – Tied agent notification form – Additional information to be provided form, must always be attached to any notification of the use of a tied agent.
In this form, informations on the cessation of the use of a tied agent must be provided, including the name of the person responsible for the process of cessation of the use of a tied agent, the date from which the cessation will be effective, a description of the schedule for the planned cessation, and details and processes for winding down the business operations, details of the measures to protect the interests of investors in the host Member State, the resolution of investor complaints and the discharge of any outstanding liabilities.
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##### IFM – Tied agent notification and change of tied agent particulars notification form
This form and the IFM – Tied agent notification form – Additional information to be provided form, must always be attached to any notification of the use of a tied agent.
In this form, the intended investment services to be provided by the tied agent, their Business plan and structural organisation, including their commercial strategy as well their systems & controls, must be provided.