Fund Distribution Alert 2024-06

On 25 June 2024 the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg issued and published new notification templates, effective from 14 July 2024. The templates were updated following the publication of the European Commission’s new Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) on 25 March 2024 and concerns cross-border management activities of Luxembourg Alternative Investment Fund Managers (AIFMs) and UCITS management companies as well as cross-border marketing activities of Luxembourg AIFMs and UCITS.

The CSSF highlighted that the new templates will require separate notifications for management activities under the UCITS Directive and the AIFM Directive, instead of a combined notification.

Until further notice, notifications related to management activities and their corresponding annexes must still be sent to the CSSF via email. The CSSF will provide additional information once a dedicated module is established on eDesk for this purpose.

Additionally, any AIFM or UCITS attestation will in the future be added to any cross-border management or cross-border marketing notification (i.e. UCITS art. 93 or AIFMD art. 32) directly by the CSSF. It is therefore no longer necessary to request these attestations from the Luxembourg authority.

The CSSF communication is available in English here.

Feel free to contact us should you require additional information.

Partner
+352 22 51 51 7892
said.fihri@kpmg.lu

Senior Manager
+352 22 51 51 7417
henrik.olsson@kpmg.lu