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CSSF regulation sets out risk management and conflicts of interest rules for SIFs

September 2012 - Finance. Legal Developments by Chevalier & Sciales .

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Luxembourg’s financial regulator, the Financial Sector Supervisory Authority (CSSF) has published on August 13 a regulation setting out the provisions implementing Article 42b of the revised Specialised Investment Fund legislation regarding risk management and conflict of interest requirements. CSSF Regulation N° 12-01 specifically concerns paragraph 1 of the article, regarding the criteria for assessing the suitability of risk management systems used by SIFs, and paragraph 2, regarding structures and organisational requirements designed to minimise the risk of conflicts of interest arising.

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