The Law of 17 December 2010 in Luxembourg is known for establishing the legal framework for Alternative Investment Fund Managers (AIFMs) and transposing the EU Alternative Investment Fund Managers Directive (AIFMD) into Luxembourg law. Part I of the law sets out the rules governing alternative investment fund managers (AIFMs) who manage or market alternative investment funds (AIFs) in or from Luxembourg. It implements the AIFMD requirements, ensuring investor protection, risk management, and transparency in the alternative investment fund sector Managers.