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CSSF Luxembourg

Morgan Lewis - Tech & Sourcing

Luxembourg’s Financial Services Regulator Enhances ICT Incident Reporting Framework

New ICT incident reporting requirements under Circular 24/847 (Circular) of the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s financial regulator, will come into effect on April 1. This introduces a new...more

K&L Gates LLP

Luxembourg Financial Services Regulator, the Financial Sector Supervisory Commission, and Issues FAQs on "Virtual Asset Service...

K&L Gates LLP on

New FAQS Complementary to FAQs on Investment in Virtual Assets - Further to the general publications by the Financial Sector Supervisory Commission (CSSF) in 2020 and 2021 and two sets of frequently asked questions (FAQs)...more

Dechert LLP

CSSF SFDR/ Sustainable Finance Related Developments March/April 2023

Dechert LLP on

Background- European regulators have begun reviewing documentation and other information in connection with implementation of the EU’s Sustainable Finance Disclosure Regulation (SFDR)1 and the Taxonomy Regulation (RTS).2 On...more

Dechert LLP

Luxembourg Publishes Bill of Law Aimed at Modernization of Product Laws Including Part II AIFs

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The Luxembourg government published bill of law n°8183 (the “Bill”) on 24 March 2023 that amends five existing laws on alternative investment funds (“AIFs”) and alternative investment fund managers (“AIFMs”), namely the UCI...more

Dechert LLP

Luxembourg’s CSSF SFDR Guidance: What You Need to Know

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On 2 December 2022, Luxembourg’s supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF) published an FAQ that seeks to clarify certain items under the Sustainable Finance Disclosure Regulation...more

Dechert LLP

ESG Alert – CSSF announces Fast Track Approval Process for SFDR Level 2 disclosures

Dechert LLP on

The Commission de Surveillance du Secteur Financier (CSSF), the Luxembourg financial services regulator, on 27 July 2022 issued a communication to the investment fund industry reminding it of the deadline of 1 January 2023...more

Morgan Lewis - Tech & Sourcing

Outsourcing in Luxembourg: CSSF Consolidates Regulations for Financial Institutions

The financial services regulations relating to outsourcing by Luxembourg-headquartered financial institutions have been significantly simplified by the introduction of the Commission de Surveillance du Secteur Financier...more

A&O Shearman

Additional sustainable finance requirements for Luxembourg UCITS management companies and AIFMs

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On 1 August 2022, the following delegated acts, which complement the Sustainable Finance Disclosure Regulation 2019/2088 (SFDR) entered into force...more

Hogan Lovells

eRIIS, a CSSF web platform for filings under the transparency law and the market abuse regulation

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The Commission de Surveillance du Secteur Financier (CSSF) has launched a new web platform called eRIIS which stands for electronic Reporting of Information concerning Issuers of Securities providing issuers and persons...more

A&O Shearman

CSSF clarifies the requirements for persons willing to benefit from the limited network exclusion under PSD II

A&O Shearman on

On 18 May 2022, the CSSF published CSSF circular 22/812 (the CSSF Circular) through which it integrates into its administrative practice and regulatory approach the EBA guidelines on the so-called limited network exclusion...more

A&O Shearman

Impact of amendments to the CSSF circular 12/552 for the industry

A&O Shearman on

On 22 April 2022, the CSSF published CSSF circular 22/807 amending the CSSF circular 12/552 on central administration, internal governance and risk management to take account of amended or new guidelines issued by EBA and/or...more

Dechert LLP

Luxembourg: the new securitisation regime offers more flexibility and new opportunities

Dechert LLP on

On 9 February 2022, the Luxembourg Parliament voted to adopt a law that will bring about long-awaited reform of the Luxembourg’s securitisation regime. The law of 25 February 2022 – which was published in the Luxembourg...more

A&O Shearman

Luxembourg securitisation regime set for major boost

A&O Shearman on

On 9 February 2022, the Luxembourg parliament adopted law no. 7825 (Law) amending, among others, the Luxembourg act dated 22 March 2004 on securitisation, as amended (Securitisation Act 2004) to Parliament. ...more

K&L Gates LLP

Luxembourg Financial Services Regulator CSSF Issues FAQ on Investments in Virtual Assets by Undertakings in Collective Investments...

K&L Gates LLP on

Like other financial centers, Luxembourg has recently seen a strongly growing interest in investments in new technologies, including virtual assets such as digital tokens. Complementary to that interest is a growing strong...more

Hogan Lovells

Clarification by the CSSF on the lending to the public concept

Hogan Lovells on

On June 15, the Commission de Surveillance du Secteur Financier (CSSF) updated its Q&A on the statuses of Professionals of the Financial Sector (PFS) with respect to professionals performing lending operations, by giving...more

Dechert LLP

Further Clarification by the CSSF on the Concept of "Public" for Professionals Carrying on a Lending Activity

Dechert LLP on

On 15 June 2021, the Luxembourg financial services regulator, the Commission de Surveillance du Secteur Financier (the "CSSF") updated its Questions and answers on statuses of "PFS" – part II (the "PFS Q&A") by providing...more

A&O Shearman

CSSF FAQ – Use of Securities Financing Transactions by UCITS (and AIFs) – three months left

A&O Shearman on

On 18 December 2020, the Commission de Surveillance du Secteur Financier (CSSF) published a new FAQ in relation to the use by Luxembourg-domiciled UCITS of the following Securities Financing Transactions (SFTs): securities...more

Proskauer Rose LLP

Changes to AIFMD Marketing Rules from August 2021 – How will these New Rules Impact Fund Managers?

Proskauer Rose LLP on

On 2 August 2021, changes to fund marketing rules will come into effect in the European Union (“EU”). The revised rules (the “Marketing Rules”) amend the existing regime relating to the marketing of alternative investment...more

Goodwin

Sustainable Finance In Luxembourg — What Managers Should Do Now

Goodwin on

Regulation (EU) 2019/2088 of 27 November, 2019 on sustainability-related disclosures in the financial services sector, as amended by Regulation (EU) of 18 June, 2020 on the establishment of a framework to facilitate...more

Goodwin

Luxembourg Funds and Brexit: Update to UK Managers

Goodwin on

With the transition period coming to an end by the end of 2020, many UK managers are questioning the implication of Brexit to the fundraising and management of Luxembourg-based funds. As forecasted in our previous market...more

Goodwin

Update To UK AIFMs Of Luxembourg Funds

Goodwin on

Many UK managers are currently questioning the implication of Brexit to the fundraising and management of Luxembourg based funds. In particular, many query whether they may still today launch a new Luxembourg fund and act as...more

Goodwin

COVID-19 Related Measures: Current State of Play for the Funds Industry in Luxembourg

Goodwin on

A variety of steps have been taken to accommodate managers working during the lockdown. As at 29 September 2020, these measures are as follows: 1. MORE FLEXIBILITY FOR THE GOVERNANCE OF FUNDS - On 20 March 2020, the...more

Goodwin

COVID-19 Related Measures: Current State of Play for the Funds Industry in Luxembourg

Goodwin on

A variety of steps have been taken to accommodate managers working during the lockdown. As at 22 June 2020, these measures are as follows: 1. MORE FLEXIBILITY FOR THE GOVERNANCE OF FUNDS...more

Goodwin

Covid-19 Related Measures: Current State of Play for the Funds Industry in Luxembourg

Goodwin on

A variety of steps have been taken to accommodate managers working during the lockdown. As at 20 May 2020, these measures are as follows: 1. MORE FLEXIBILITY FOR THE GOVERNANCE OF FUNDS - The increased flexibility for the...more

Goodwin

EU and non-EU Managers of Luxembourg Funds: Weekly Updates for the CSSF

Goodwin on

Various measures have been implemented in Luxembourg to help Luxembourg funds tackle the impact of the COVID-19 outbreak... This is a fast-moving crisis and it is important to closely monitor the outbreak, its business...more

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