Events listed in [CSSF] Commission de Surveillance du Secteur Financier
Circulaire CSSF 23/839
ID 24399
The Circular CSSF 23/839, issued on 26 July 2023, amends Circular CSSF 21/789 and is directed at all Investment Fund Managers operating under Luxembourg Law, as well as those involved in the operation and control of these entities. The first notable change is the **clarification of the circular’s scope of application for management companies subject to Article 125-1 of Chapter 16 of the UCI ...
Circulaire CSSF – Circulaire CSSF-CPDI 23/37
ID 24272
Circular CSSF-CPDI 23/37 aims to conduct a regular survey on deposits, with a particular focus on covered deposits, as held by various institutions under Luxembourg law and branches of credit institutions headquartered in a third country, as of 30 June 2023. The definition of „covered deposits“ and „eligible deposits“ is provided in Article 163 of the BRRD Law. **Circular CSSF-CPDI 16/02, as amended by ...
CSSF feedback report on ESMA Common Supervisory Action on valuation
ID 24269
ESMA initiated a CSA in January 2022, in collaboration with NCAs, to evaluate the valuation of UCITS and open-ended AIFs. Concurrently, the CSSF conducted a related supervisory exercise focused on the valuation practices of IFMs during the Russia-Ukraine crisis, which resulted in illiquid/non-tradeable assets due to the crisis and EU-imposed restrictive measures. ESMA’s CSA on Valuation aimed to assess various aspects, including valuation policies ...
URR – UCITS identifiers
ID 24231
On 17 July 2023, the Commission de Surveillance du Secteur Financier (CSSF) published, as scheduled, an updated UCITS risk reporting (URR) – UCITS identifiers list as an XLSX-spreadsheet. Previously, on 13 December 2022, the CSSF already updated its Guidelines on URR, which contain detailed information to be submitted for the current reporting period. Please consult our corresponding RISP-event, covered in eventid=18628 for more details. ...
Règlement CSSF N° 23-03 du 30 juin 2023
ID 24176
CSSF Regulation No 23-03 of 30 June 2023 transposes Guideline (EU) 2022/508 of 25 March 2022 amending Guideline (EU) 2017/697 of the European Central Bank on the exercise of options and discretions available in Union law by national competent authorities in relation to less significant institutions (ECB/2022/12), and amendings CSSF Regulation No 18-03 of 5 June 2018. The amendments encompass various sections: Article 1, ...
User Guide for remuneration reporting
ID 24014
The present User Guide for Remuneration Reporting, published on 3 July 2023 by the CSSF, specifies three CSSF Circulars that adopt EBA Guidelines on remuneration data collection exercises. These exercises are mandated by the CRD and IFD frameworks and encompass various aspects of remuneration practices. The Circulars mentioned are: 1. Circular CSSF 23/836, adopting the EBA Guidelines on benchmarking exercises for remuneration practices, gender ...
New reporting module for UCI administrators in accordance with Circular CSSF 22/811 ...
ID 23971
The CSSF has previously published Circular CSSF 22/811 (the „UCIA Circular“), which introduced new annual reporting for UCI administrators to strengthen the CSSF’s risk-based supervision. Indeed, UCIAs must file information regarding its business activities and resources as detailed in Annex B of the UCIA Circular, at the latest 5 months after its financial year-end, starting from 30 June 2023. For example, a UCIA with ...
Règlement CSSF N° 23-02 du 30 juin 2023
ID 23969
The CSSF published Regulation N° 23-02 of 30 June 2023 on the fixation of the counter-cyclical buffer rate for Q3 2023. In accordance with Article 59-7 of the Law of 5 April 1993 on the financial sector, based on the documented elements in Appendix 1 (Elements considered for setting the applicable countercyclical buffer rate) and the recommendation of the Systemic Risk Committee of 8 ...
SFDR data collection exercise applicable to investment fund managers (IFMs) and ...
ID 23964
This CSSF Communication is a follow-up to previous announcements made by the CSSF on 27 July 2022 and 24 March 2023, indicating its intent to conduct a data collection exercise related to the SFDR and TR (please see eventID#16863 and eventID#20211). The objective of this Communication is to inform industry participants about the launch of the data collection exercise **for financial products that disclose ...
CSSF FAQ CBDF – Notification procedures (updated on 29.06.2023)
ID 23946
The FAQ on CBDF notification rules regarding cross-border distribution of collective investment undertakings has been updated by the CSSF. These rules were introduced into the Luxembourg Laws of 17 December 2010 and of 12 July 2013 following Directive (EU) 2019/1160. The purpose of these FAQs is to highlight the changes for notifications to the CSSF as of 2 August 2021. The document may be ...