Luxembourg investment funds newsletter

• Luxembourg

• Financial services - Asset managers and funds

28-02-2022

Our Financial Services team highlight the latest CSSF updates and changes from the last few months and how they will impact businesses.

Some of the key highlights in the newsletter include:

• eDesk performance fee declaration for Investment Fund Managers – With new changes for the eDesk application to ensure compliance with the European Securities and Markets Authority’s guidelines, we look at what exactly IFMs need to declare and the relevant timelines.
• Communication to UCIs and IFMs on cessation of EONIA and LIBOR – In light of cessation of EONIA and LIBOR benchmarks, the CSSF expects those entities to have taken steps to ensure a smooth transition to alternative rates and have in place robust fullback provision in case of cession of any other benchmark used. Our team look at these benchmarks in more detail, and the set timelines individuals must comply by.
• Guidance on virtual assets – with virtual assets becoming increasingly important in today’s Financial Sector, we cover the CSSF’s FAQs on credit institutions and undertakings for collective investment.
• CSSF fast track procedure for filing of the Taxonomy Regulation disclosures – In December 2021, the CSSF laid out their regulatory requirements and the fast track procedure in relation to Regulation (EU) 2020/852 on the establishment of a framework to facilitate sustainable investments. We provide more information on the requirements and the procedure put in place by the CSSF.

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For more information and guidance on the details of the CSSF publications and how they might impact your business, please get in touch: