Circular of the Central Bank of Luxembourg on statistical data collection for non-regulated AIFs

The Central Bank of Luxembourg published circular BCL 2018/241 entitled “New statistical data collection for non-regulated alternative investment funds” on 18 May 2018. It states that regulation ECB/2013/38 concerning statistics on the assets and liabilities of investment funds also applies to non-regulated alternative investment funds (AIFs).

Read: The circular BCL 2018/241 in full

Launch of eDESK, a new service by the CSSF

The CSSF launched a new online tool on 15 May 2018 named eDesk allowing the fund industry to submit their requests for residence certificates via a dedicated Internet portal. This application replaces the email procedure for requesting residence certificates for UCITS, Part II UCIs, SIFs, SICARs, IFMs and securitisation undertakings and UCITS and AIFMD/ESMA attestations for non-EU countries.

Read: The CSSF press release

Proposed amendments to CRS reporting

The Luxembourg Ministry of Finance and the tax authorities intend to amend the scope of CRS reporting. Some of the contemplated amendments may have an impact on CRS reporting for 2017 and take the form of a draft Grand-Ducal Regulation submitted on 15 June 2018 (amending the lists of “Reportable Jurisdictions” and “Excluded Accounts”) and a newsletter from the Luxembourg tax authorities dated 19 June 2018 commenting on the terms of the draft regulation.

Read: The draft Grand Ducal Regulation dated 15 June 2018 (in French)

Read: The newsletter from the tax authorities

ALFI responds to proposed amendments to delegated regulation (EU) 2016/2251

ALFI published its response on 15 June 2018 to the ESA Consultation on Amendments to Delegated Regulation (EU) 2016/2251 on risk mitigation techniques for OTC-derivative contracts not cleared by a CCP under Article 11(15) of regulation (EU) No 648/2012 in the context of the STS securitisations under Regulation (EU) 2017/2402.

Read: The ALFI press release

ALFI responds to consultation on EMIR clearing obligation under the EU securitisation regulation n°2017/2402

ALFI published its response to the ESMA Consultation Paper on the Amendments to the EMIR Clearing Obligation under the Securitisation Regulation on 15 June 2018.

Read: The ALFI press release