ESG And Sustainable Finance – CSSF Issues Communication On SFDR And Fast Track Procedure

Of relevance to all Luxembourg IFMs, UCITS and regulated AIFs.

On 16 December 2020, the CSSF issued its communication (available here) on how it intends to deal with the Sustainable Finance Disclosure Regulation (EU) 2019/2088 ("SFDR"), which will become applicable in large part on 10 March 2021. Most notably, the CSSF provides details in its communication on the fast track procedure for updating prospectuses/offering documents and the confirmation letter that will need to accompany it (available here).

The CSSF reiterates that, in the absence of the relevant Regulatory Technical Standards (the "Level 2" SFDR implementing measures), investment fund managers ("IFMs") and their funds will need to comply with the "high-level principle-based requirements" of SFDR by 10 March 2021.