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CSSF warns UK Funds Managers seeking to relocate to Luxembourg prior to 29 March 2019 to submit applications as soon as possible

CSSF warns UK Funds Managers seeking to relocate to Luxembourg prior to 29 March 2019 to submit applications as soon as possible
  • Luxembourg
  • United Kingdom
  • Financial services and markets regulation
  • Payment systems and digital commerce
  • Financial services

30-07-2018

The CSSF issued a press release 18/25 on 25 July drawing the attention of fund managers to the need to consider the consequences of a potential hard Brexit. The CSSF warns that new, additional or extended authorisations might be needed in order to relocate business and that the time required for analysing authorisation requests can be substantial and depends on numerous factors.

The press release echoes the ESMA opinion issued on 12 July 2018.

To read the CSSF press release, click here.

To read the ESMA opinion, click here.

How Eversheds Sutherland can help

Since June 2016, our lawyers and consultants have advised various institutions passporting into the UK from EU27 Member States and passporting from the UK into the EU27 on Brexit planning and Brexit related issues.

We would be happy to discuss how we can help you with your Brexit planning and execution of those plans.