Parliament adopts general data protection law
Parliament has adopted the law of 1 August 2018 on the organisation of the National Commission for Data Protection and implementation of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of individuals with regard to the processing of personal data and on the free movement of such data which, inter alia, repeals the law of 2 August 2002 on the protection of persons with regard to the processing of personal data.
Read: The regulation (French)
CSSF issues Circular 18/698 and reshapes organisational rules of UCITS Management companies and AIFMs, enforces local substance requirements
The CSSF published a circular on the authorization and supervision of investment fund managers and AML requirements on 23 August 2018, which consolidates the requirements for Luxembourg UCITS management companies, self-managed UCITS, authorised alternative investment fund managers, and authorised internally managed AIFs.
Read: The circular (French)
Read: Dechert OnPoint
CSSF issues Circular 18/697 on non-UCITS depositaries
The CSSF published a circular on organisational arrangements applicable to fund depositaries that are not serving as depositaries for UCITS.
Read: The circular (French)
CSSF issues new versions of their FAQs (MMF, AIFM and non-AIF SIF and SICARs)
The CSSF published:
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a new version of its FAQ on specialised investment funds under the law of 13 February 2007 (SIFs) and investment companies in risk capital under the law of 15 June 2004 (SICARs) that do not qualify as alternative investment funds on 14 August 2018;
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a new version of their FAQ on the Luxembourg Law of 12 July 2013 on alternative investment fund managers as well as the Commission Delegated Regulation (EU) No 231/2013 of 19 December 2012 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to exemptions, general operating conditions, depositaries, leverage transparency and supervision on 14 August 2018; and
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the FAQ on the Regulation (EU) 2017/1131 of the European Parliament and of the Council of 14 June 2017 on money market funds for the first time on 28 August 2018.
Read: The AIFM FAQ
Read: The Non-AIFM and SICAR FAQ
Read: The MMF FAQ
CSSF releases its annual report 2017
The CSSF published its annual report 2017 on 29 August 2018.
Read: The report
ALFI issues recommendations for the future development of the fund sector
ALFI issued recommendations on 17 September 2018.
Read: The press release
