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ARTICLE · 30 JANUARY 2020

UCITS KIID Benchmark Disclosures - The CSSF's Expectations

Arendt & Medernach
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On 27 January 2020, the CSSF published a press release in which it reminded UCITS management companies and self-managed UCITS that their KIIDs needed to include the necessary changes required to comply with the disclosure obligations.

LuxembourgFinance and Banking
Michèle Eisenhuth
Michèle Eisenhuth
Piotr Giemza-Popowski
Piotr Giemza-Popowski
Corinne Prinz
Corinne Prinz
Géraldine Léonard
Géraldine Léonard
Allison Norie
Allison Norie
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On 27 January 2020, the CSSF published a press release in which it reminded UCITS management companies and self-managed UCITS that their KIIDs needed to include the necessary changes required to comply with the disclosure obligations regarding the reference to benchmark(s) and inclusion of such benchmarks in the past performance chart introduced by the updated ESMA Q&A dated 29 March 2019 no later than at the annual update of the UCITS KIID which is to take place on 19 February 2020.

The CSSF has confirmed that the updated UCITS KIIDs have to be filed with the CSSF via the usual transmission channel. This confirms that updated KIIDs will not be pre-approved by the CSSF and need to be uploaded to the CSSF system according to the usual procedure.

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