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ARTICLE · 06 AUGUST 2020

CSSF FAQ On The Circular 02/77

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The CSSF has published a list of FAQs on the application of the CSSF Circular 02/77 concerning the protection of investors in case of NAV calculation error and correction of the consequences resulting from non-compliance ...

LuxembourgFinance and Banking
Benoît Rose
Benoît Rose
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The Financial Sector Supervisory Authority (the CSSF) has published a list of frequently asked questions (FAQ) on the application of the CSSF Circular 02/77 concerning the protection of investors in case of NAV calculation error and correction of the consequences resulting from non-compliance with the investment rules applicable to undertakings for collective investment.

This FAQ was issued on 7 July and applies to Undertakings for Collective Investment in Transferrable Securities (UCITS) and Undertakings for Collective Investment (UCI) subject to the part II of the 2010 Law1. It clarifies several situations linked to investment breaches, potential correction methods and tolerance thresholds.

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