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CSSF fast-track procedure for fund managers to comply with SFDR disclosure rules

CSSF fast-track procedure for fund managers to comply with SFDR disclosure rules
04/01/2021

The Commission de Surveillance du Secteur Financier (the CSSF), has issued a communication (the CSSF Communication) to inform investment fund managers (IFMs) of Luxembourg undertakings for collective investment in transferable securities (UCITS) and alternative investment funds (AIFs)

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Luxembourg - ESG update

Luxembourg - ESG update
22/12/2020

Creation of a new CSSF fast track procedure for fund managers when implementing EU ESG rules

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With the implementation of SFDR approaching, the CSSF sets-up a fast track procedure

With the implementation of SFDR approaching, the CSSF sets-up a fast track procedure
22/12/2020

With less less than 3 months to go until the Sustainable Finance Disclosure Regulation (“SFDR”) comes into force in the EU (on 10 March 2021), the Luxembourg regulator (the « CSSF») published on 16 December 2020 a communication detailing the new regulatory requirements

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CSSF press release relating to central administration internal governance and risk management for investment firms and credit institutions

CSSF press release relating to central administration internal governance and risk management for investment firms and credit institutions
21/12/2020

The Commission de Surveillance du Secteur Financier (the « CSSF») published on 7 December 2020 the following circular letters relating to central administration, internal governance and risk management which will come into force on 1st January 2021

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ESMA Guidelines on performance fees in UCITS and certain types of AIFs

ESMA Guidelines on performance fees in UCITS and certain types of AIFs
17/12/2020

On 3 April 2020, ESMA eventually released its much-anticipated final report on guidelines on performance fees in UCITS and certain types of AIFs, including the guidelines themselves (the “Guidelines”).

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Regulatory certainty for the investment fund industry in view of the forthcoming end of the transitional period under Brexit

Regulatory certainty for the investment fund industry in view of the forthcoming end of the transitional period under Brexit
14/12/2020

The CSSF reminds market participants that passporting rights will be terminated as of 31 December 2020 at midnight and therefore be lost as of 1 January 2021. 

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Regulatory certainty for the investment fund industry in view of the forthcoming end of the transitional period under Brexit

Regulatory certainty for the investment fund industry in view of the forthcoming end of the transitional period under Brexit
10/12/2020

In view of the departure of the United Kingdom from the EU on 1 February 2020 and the forthcoming end of the transitional period on 31 December 2020, the CSSF stated its expectations and rendered some clarifications through a press release published on 7 December 2020.

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CSSF Carried Out a COVID-19 Thematic Review of Issuers’ Reporting

CSSF Carried Out a COVID-19 Thematic Review of Issuers’ Reporting
27/11/2020

The COVID-19 pandemic has hit Luxembourg as other European countries since the beginning of the year 2020 and has adversely affected a number of issuers under CSSF's supervision.

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FCA communication to Luxembourg-based entities about the UK temporary permissions regime

FCA communication to Luxembourg-based entities about the UK temporary permissions regime
23/11/2020

On 19 November 2020 the Luxembourg supervisory authority for the financial sector, the CSSF, issued press release 20/23 (the 20/23 Press Release) on a communication from the United Kingdom (UK) Financial Conduct Authority (FCA) regarding the post-Brexit temporary permissions regime in the UK (TPR) (the FCA Communication).

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ELTIF Reform European Commission publishes consultation

ELTIF Reform European Commission publishes consultation
02/11/2020

On 19 October 2020, the European Commission published a public consultation on the review of the European long-term investment fund (ELTIF) regulatory framework, with the aims of enhancing the attractiveness of ELTIFs for long-term investment projects and increasing the number of ELTIFs

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