Luxembourg: CSSF publishes Circular on notification rules for non-authorised funds
On 27 June 2025, the Commission de Surveillance du Secteur Financier (CSSF) published Circular CSSF 25/894, which reforms and replaces Circular CSSF 15/612.
The reform is crucial for enhancing the CSSF’s supervisory capabilities over Investment Fund Managers (IFMs) in Luxembourg, ensuring transparent oversight of all funds managed by Luxembourg-based IFMs, especially those not authorised by CSSF. The revised circular applies to both European UCITS and European AIFs managed by IFMs, and it comes into effect on 27 June 2025.
This new circular broadens the scope of application compared to the previous version and introduces updated reporting requirements. The reform ensures alignment with EU regulations, especially regarding funds managed by Luxembourg IFMs, and establishes new procedures for submitting detailed information about these funds.
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