Circulaire CSSF 23/844

Circular CSSF 23/844, titled „Reporting obligations for Alternative Investment Fund Managers,“ addresses AIFMs governed by Luxembourg law and individuals involved in the operation and control of these entities.
The directive under consideration is Directive 2011/61/EU, commonly referred to as „AIFMD,“ enacted by the European Parliament and the Council on 8 June 2011. AIFMD imposes periodic reporting requirements on AIFMs based on factors such as their assets under management, investment strategies, and use of leverage. The specific reporting obligations are outlined in Article 3(3)(d) of the AIFMD for registered AIFMs and in Article 24(1), (2), and (4) for authorized AIFMs. Luxembourg has incorporated AIFMD into its legislation through the Law of 12 July 2013 on alternative investment fund managers (AIFM Law), with corresponding articles for registered and authorized AIFMs.
On 19 December 2012, the European Commission issued Delegated Regulation (EU) No 231/2013 (referred to as the Alternative Investment Funds Managers Regulation – AIFMR), supplementing the AIFMD. This Regulation provides detailed information on reporting obligations to NCA under Articles 3 and 24 of AIFMD. Annex IV of the Regulation includes a reporting template that AIFMs must use to fulfill their reporting obligations.
The objective of Circular CSSF 23/844 is to elucidate the technical details necessary for AIFMs to fulfill their reporting obligations. Operational issues related to reporting, such as reporting frequency, reporting periods, and the first reporting period for existing, registered, and authorized AIFMs, are directed to the AIFM FAQ available on the CSSF website.
The CSSF mandates that the submission of reporting files adhere to the specifications outlined in the technical guidance provided on the CSSF website (see eventid=22966).