Regulatory & Compliance
All updates on Luxembourg regulations related to UCITS, SIF and RAIF investment funds, as well as ESG regulations and distribution news.
UCITS new cross border notification requirements and implications for Luxembourg domiciled funds
In the February 2022 update of its FAQ on UCITS, the ESMA provided new guidance related to the cross border marketing activities of UCITS. In particular, within section IV titled “Notification of UCITS and UCITS management companies;...
CSSF guidance on virtual assets
Following its recent communications on financial innovation, the Commission de Surveillance du Secteur Financier (the "CSSF") has just published a very interesting guide on virtual assets with a focus on the investment fund industry. Virtual...
PRIIPS - postponement of the UCITS exemption
The European Parliament validated on 23 November 2021 a further 6-month extension to the European Commission’s proposal to move the end of the exemption from the obligation to issue a PRIIPs KID for UCITS and non-UCITS and the application of...
Compliance by UCITS with the conditions described in these FAQs is expected as soon as possible and by 31 December 2022 at the latest. The most important changes and clarifications introduced into the CSSF FAQs on UCI Law concern the following...
A new European AML/CFT package
Circular 21/782 amends Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repeals Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC1. The revised...
A new dedicated eDesk application, where Investment Fund Managers have to declare the performance fee models applicable to UCITS and AIF.
Starting from September 30, Investment Fund Managers must declare the performance fees models applicable to all UCITS and AIFs Funds registered in Luxembourg. From 30 September, investment fund managers must report the performance fee models...
On 17 August 2021 the CSSF published an update of its UCITS Q&A in order to add a new section for Treatment of breaches of the UCITS global exposure limit. In particular the following clarifications have been issued in relation to...
UCITS Q&A: Swing Pricing
On 17 August 2021 the CSSF published an update of its UCITS Q&A in order to further clarify certain aspects of the swing pricing mechanism, notably in which circumstances the Funds may increase the applied swing factor beyond the maximum swing...
Communication related to the publication of the Law of 21 July 2021 transposing Directive (EU) 2019/1160
The CSSF informs that Circular CSSF 11/509 has been updated in order to include amendments relating to the Law of 21 July 2021 transposing Directive (EU) 2019/1160 with regard to cross-border distribution of collective investment undertakings...
