Newsletters & Newsflashes

On 27 January 2020 the CSSF published a communication on benchmark disclosures in the key investor information document (the " KIID") of UCITS (the “ Communication”). The Communication refers to an update to ESMA Questions and Answers on the application of the UCITS Directive published on 29 March

On January 28, 2020, the CSSF published the following three Circulars for the attention of all money market funds (“ MMF(s)”) under the supervision of the CSSF and Luxembourg managers of MMFs as well as of those that take part in the functioning and control of these undertakings: CSSF Circular 20

On 24 December 2019, the CSSF published a communiqué (the " Communication") regarding Regulation (EU) 2016/1011 on indices used as benchmarks (the " Benchmark Regulation") addressed to all entities which are subject to the CSSF’s supervision and which are using benchmarks (the " Concerned Entities")

On 9 December 2019 the European Parliament and the Council adopted two new regulations relating to sustainable finance in the context of the European Union’s aim to strengthen the response to climate change. Regulation (UE) 2019/2088 on sustainability-related disclosures in the financial services

Background On 27 March 2019, the European Parliament adopted a legislative resolution on the proposal for a regulation on European Crowdfunding Service Providers (" ECSP"). Until now, the European Parliament negotiating team and the Council still had some points of discussion. An agreement has

On 11 December 2019, the CSSF published press release 19/60 (the " Press Release") reminding that pursuant to press release 19/28 published on 1 July 2019 all SIFs, Part II UCIs and SICARs are obliged to complete an online assessment about the impact of Regulation 1286/2014 on key information

As and from 1 November 2019, applications for new UCI approvals (i.e. UCITS, UCI Part II, SIF and SICAR) not yet registered on the official list, will have to be submitted via the CSSF’s new eDesk portal. Applications via email will no longer be accepted. The CSSF have provided a dedicated user

BACKGROUND On 4 December 2019, ESMA published updated Questions and Answers (" Q&A") on the application of the Alternative Investment Fund Managers Directive (" AIFMD"). The updated Q&A incorporate a new question and answer into Section III on reporting to national competent authorities under

On 5 December 2019, the CSSF published a communication summarizing results of an AML/CFT questionnaire as well as an AML/CFT conference concerning registered AIFMs and Self-Managed Non-AIFs which took place on 3 December 2019 (the " Communication"). The Communication provides seven areas which in

On 25 November 2019, the CSSF issued its FAQ on persons responsible for AML/CTF compliance for a Luxembourg Investment Fund or Investment Fund Manager supervised by the CSSF. This FAQ gives the CSSF’s interpretation on the application of article 4(1) of the Law of 12 November 2004 on the fight

On 20 December 2019, the CSSF published Circular 19/733 on liquidity risk management for open-ended undertakings for collective investment (the " Circular"). The objective of the Circular is to implement recommendations and good practices of the International Organization of Securities Commissions (

BACKGROUND In August 2018, the CSSF addressed a European Market Infrastructure Regulation (" EMIR") questionnaire to investment fund managers under its supervision (" IFMs"). The IFMs were required to complete and return the questionnaire to the CSSF in order to assess compliance with EMIR. The aim