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ARTICLE · 14 MAY 2013

CSSF Circular 13/559 And ESMA's Q&A Relating To ESMA's Guidelines On ETFS And Other UCITS

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On February 18th 2013 the CSSF published Circular 13/559 relating to the guidelines of the European Securities Market Authority on ETFs and other UCIT's issues.

LuxembourgFinance and Banking
Bonn Steichen & Partners
Bonn Steichen & Partners

On February 18th 2013 the CSSF published Circular 13/559 (the "Circular") relating to the guidelines (the "Guidelines") of the European Securities Market Authority on ETFs and other UCIT's issues (ESMA/2012/832).

The aim of the Circular is to implement into Luxembourg regulation the Guidelines which entered into force on February 18th 2013. In addition, the Circular provides an overview of the main provisions of the Guidelines.

For further information on the Guidelines please see our newsletters of September 2012 and January 2013.

Any new UCITS created after February 18th 2013 should comply with the Guidelines immediately.

UCITS that exist before February 18th 2013 and that invest in financial indices that do not comply with the Guidelines should align their investments with the Guidelines by February 18tth 2014.

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