Newsletters & Newsflashes

We are excited to bring to your attention a significant development in AIFMD 2.0 with the introduction of a new provision for depositaries. This update will shed some light on the conditions that must be fulfilled when the depositary delivers its services while being based in a different EU state

On 29 February 2024, the CSSF published a new Circular 24/854 setting out guidelines for the submission of the SRRC (as defined below) by investment fund managers and investment funds supervised by the CSSF (the “ Circular”). The Circular is supported with a FAQ (list of questions and answers) on

Embracing change in the virtual asset space The Commission de Surveillance du Secteur Financier (“ CSSF”) has recently revised its frequently asked questions (“ FAQ”) on virtual assets for undertakings for collective investment (“ UCI”) , marking another significant regulatory adjustment following a

In 2012, the European EMIR regulation came into force to improve the transparency of over-the-counter (OTC) and exchange-traded (ETD) derivatives markets and reduce credit and operational risks. Twelve years later, a regime update reinforcing the requirements applicable to derivatives processing is

In a press release dated January 31, 2024, the Commission de Surveillance du Secteur Financier (the “ CSSF”) announced changes to the method of exchanging information between UCI departments and investment fund managers in accordance with CSSF circular 19/721 - Dematerialisation of requests to the

In a press release dated 31 January 2024, the Commission de Surveillance du Secteur Financier (the "CSSF") announced that a new channel is available for alternative investment fund managers to submit their AIFM reports via Application Programming Interface (“API”) the eDesk platform. Key changes

The UK Government confirmed that investment funds regulated under Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (“

Background Regulation (EU) 2023/606 of 15 March 2023 (the “ELTIF 2.0”) entered into force on 10 January 2024. These awaited amendments to the ELTIF Regulation (EU) 2015/760 (the “ELTIF Regulation”) were expected to combine the best of different investment fund types- professional and retail, open

Changes to the subscription tax introduced by the law and Grand-Ducal regulation of 21 July 2023 ESMA opinion on undue costs requirements for AIFS and UCITS Update on CSSF circular 21/789 impacting investment fund managers Modification to the FAQ | Submission of closing documents and financial

In a press release dated 22 November 2023, the CSSF announced its 2023 Financial Crime Survey (" 2023 Survey") will start on 19 February 2024. Scope of application All financial professionals and entities subject to the supervision of the CSSF are required to participate in the 2023 Survey. The aim

On 4 December 2023, the European Supervisory Authorities (“ ESAs”) published a final report setting out proposals to amend the draft regulatory technical standards (“ RTS”) to Commission Delegated Regulation 2022/1288 (the “ SFDR Delegated Regulation”). The final report responds to a mandate sent by

On 2 November 2023, the CSSF issued circular CSSF 23/844 (the " Circular") aiming to clarify the technical details regarding reporting obligations for Alternative Investment Fund Managers (“ AIFMs”). The Circular repeals the CSSF circular 14/581. Reporting obligations of AIFMs Directive 2011/61/EU