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LU - New Luxembourg circular on UCITS and their depositaries

01/01/2017

On 11 October 2016, the CSSF published circular 16/644 on the rules applicable to credit institutions acting as UCITS depositaries subject to Part I of the Act of 17 December 2010 on undertakings for collective investment and on all UCITS possibly represented by their management company.

On 11 October 2016, the CSSF published circular 16/644 on the rules applicable to credit institutions acting as UCITS depositaries subject to Part I of the Act of 17 December 2010 on undertakings for collective investment and on all UCITS possibly represented by their management company. This circular, following on from the Act which came into force on 10 May 2016 transposing Directive 2014/91/EU into Luxembourg law, provides details concerning organisational obligations applicable to depositaries of undertakings for collective investment in transferable securities subject to Part I of the law of 17 December 2010 on undertakings for collective investment.

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