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ARTICLE · 17 APRIL 2024

CSSF Issues New Guidelines For Investor Protection In Collective Investment Undertakings

Harneys
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This new circular continues to address errors in NAV calculation, investment rule breaches, and other errors in collective investment undertakings (UCIs) but has been updated...

LuxembourgFinance and Banking
Vanessa Molloy
Vanessa Molloy
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On 29 March 2024, Luxembourg's Commission de Surveillance du Secteur Financier (CSSF) issued Circular CSSF 24/856, replacing Circular CSSF 02/77.

This new circular continues to address errors in NAV calculation, investment rule breaches, and other errors in collective investment undertakings (UCIs) but has been updated to take into account legal, industry, and CSSF administrative practice changes since the date of the original circular.

The scope is clearly extended to apply to various types of funds regulated by the CSSF, including Specialised Investment Funds, Société d'Investissement en Capital à Risque, Money Market Funds, European Long-Term Investment Funds, European Venture Capital Funds, and European Social Entrepreneurship Funds.

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