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ARTICLE · 18 OCTOBER 2019

CSSF Updates Frequently Asked Questions On UCITS And AIFMs

KPMG Luxembourg
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On 2 September 2019, the CSSF ("regulator") published undated Frequently Asked Questions (FAQ) concerning the Undertakings for Collective Investment and the Alternative Investment Fund Managers.

LuxembourgFinance and Banking
Gabrielle Jaminon
Gabrielle Jaminon
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On 2 September 2019, the CSSF ("regulator") published undated Frequently Asked Questions (FAQ) concerning the Undertakings for Collective Investment and the Alternative Investment Fund Managers.

The same new item was added both FAQs and relate to the applicable requirements when a central administration or a depositary (collectively the Service Providers (SP)) transfer data to another service provider.

In that context, the SP must obtain the consent of the UCI, via the Board for a SICAV or via the IFM for common funds, for the outsourcing of the service, the type of information that will be transmitted and the country of establishment of the provider of the outsourced service.

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