On 25 October 2017, the Draft Bill of Law implementing the
Regulation (EU) No 1286/2014 on key information documents on
packaged retail and insurance-based investment products (PRRIPs)
and modifying the amended Luxembourg law of 17 December 2010 on
undertaking for collective investment and the amended Luxembourg
law of 7 December 2015 on the insurance sector, has been deposited
with the "Chambre des Députés".
From a legislative perspective, the Draft Bill of Law does not
bring any substantial amendments to the text of the PRIIPs
Regulation. It specifies that the Commission de
Surveillance du Secteur Financier (CSSF) and the
Commissariat aux assurances (CAA) respectively for
management/investment companies and insurance companies will be the
Authorities in charge of the supervision of the compliance with the
PRIIPs Regulation. They will have controlling powers as well as the
possibility to impose fines (i.e. up to 5.000.000 euros or 3% of
the revenues for moral
