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ARTICLE · 11 SEPTEMBER 2017

CSSF Provides Guidance On PRIIPs KID For Luxembourg Alternative Funds

Chevalier & Sciales
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Luxembourg financial regulator CSSF has addressed issues raised by the introduction in January 2018 of the European Union's regulation on Packaged Retail and Insurance-based Investment Products and its requirement for such products to provide investors with a Key Information Document.

LuxembourgFinance and Banking
Olivier Sciales
Olivier Sciales
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In the latest update of its Frequently Asked Questions document on the legislation governing alternative investment fund managers, published on July 6, 2017, Luxembourg financial regulator CSSF has addressed issues raised by the introduction in January 2018 of the European Union's regulation on Packaged Retail and Insurance-based Investment Products and its requirement for such products to provide investors with a Key Information Document.

Exemption for UCITS KIID

The CSSF says manufacturers of Luxembourg AIFs whose units are being advised on, offered to or sold to retail investors must have a PRIIPs KID in place from January 1, 2018, unless they benefit from a two-year exemption under article 32(2) of the PRIIPs Regulation by having issued a UCITS Key Investor Information Document before that date.

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