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ARTICLE · 06 JUNE 2022

CSSF Circular 22/811 On UCI Administrators

ELVINGER HOSS PRUSSEN, société anonyme
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On 16 May 2022, the CSSF issued Circular 22/811 concerning the authorisation and organisation of entities acting as UCI administrators...

LuxembourgFinance and Banking
Elvinger Hoss Prussen
Elvinger Hoss Prussen

On 16 May 2022, the CSSF issuedCircular 22/811concerning the authorisation and organisation of entities acting as UCI administrators ("Circular"), which rewrites and repeals Chapter D ofIML Circular 91/75setting out the rules concerning the central administration of Luxembourg undertakings for collective investment ("UCIs").

As announced in the CSSF'sPress Release 22/10, the objective of the Circular is to formalise the CSSF's regulatory practice concerning the activity of UCI administration by taking into account the legal, regulatory, market and technology evolutions and developments of the past decades. In its Circular, the CSSF also determines the principles of sound governance and the requirements to be complied with by entities providing UCI administration services in terms of substance, internal organisation (including but not limited to delegation models) and reporting.

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