The liability regime applicable to directors and conducting persons : specificities linked to investment funds - October 2022

A compilation of comprehensive learning solutions, bespoke training sessions, specialised workshops and coaching sessions.

Training Session

Oct 18, 2022
9:00 AM


Oct 18, 2022
1:00 PM
Arendt House
41, Avenue John F. Kennedy
L-2082 Luxembourg-Kirchberg


  • Asses the main risks incurred by directors / conducting persons
  • Differentiate between liability risk and risk of sanction
  • Determine the respective roles of governing bodies and senior management
  • Identify duties and responsibilities of investment vehicle/Manco/AIFM
  • Give practical guidance to directors / conducting persons on good practices they should adopt before and after having accepted a mandate
  • Advice on means to limit liability risks


Setting the scene

  • Self-managed UCITS
  • UCITS having appointed a third-party management company
  • Internally managed AIFs
  • AIFs having appointed an external AIFM

Liability regimes

  • Corporate law
  • Specific liability with respect to UCIs
  • Criminal / administrative sanctions (including UCITS V regime)
  • Extracontractual civil liability
  • Limitation of liability / discharge / compensation

Respective roles of governing bodies and senior management

Allocation of duties and responsibilities between (i) UCI board, (ii) AIFM/UCITS manco board and (iii) AIFM/UCITS manco conducting officers

Conflicts of interest

Principles of corporate governance

Practical guidance to avoid liability


Francis Kass (Partner, Investment Funds, Arendt & Medernach),
Dr. Michael Daemgen (Partner, Arendt Regulatory & Consulting).

Target Group

Board members, directors, conducting persons, …







Point of attention

The cancelation policy stated on the bottom of our page “training agenda” applies. 

For any information, please contact us by e-mail

Related Content

Francis Kass

Investment Management
Private Debt

Dr. Michael Daemgen
Partner ARC

Regulatory & Consulting

Arendt Regulatory & Consulting SA

41A, Avenue JF Kennedy L-2082 Luxembourg

T (352) 26 09 10 1
F (352) 26 09 10 7750

Arendt & Medernach SA

41A, Avenue JF Kennedy L-2082 Luxembourg

T (352) 40 78 78 1
F (352) 40 78 04