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ARTICLE · 18 DECEMBER 2019

EMIR: CSSF Feedback On The EMIR IFM Questionnaire

ELVINGER HOSS PRUSSEN, société anonyme
Explore more from ELVINGER HOSS PRUSSEN, société anonyme

On 14 October 2019, the CSSF published the results of the EMIR questionnaire which was sent to investment fund managers

LuxembourgFinance and Banking
Elvinger Hoss Prussen
Elvinger Hoss Prussen

On 14 October 2019, the CSSF published the results of the EMIR questionnaire which was sent to investment fund managers (including but not limited to UCITS ManCos and AIFMs) ("IFM") in August 2018.

The following points from the publication (i.e. CSSF Press Release 19/49) are highlighted:

  1. - The supervision and oversight of the EMIR obligations by IFMs should be improved, especially when the EMIR obligations are delegated to another entity. In that latter case, IFMs must carry out initial and ongoing due diligence on the delegate to monitor their EMIR obligations appropriately. The arrangements concluded between the IFM and the delegate must clearly establish the roles and responsibilities of each party and ensure an adequate ongoing oversight by the IFM of the EMIR obligations that they have delegated.

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