The CSSF has also announced the launch of a weekly questionnaire to be completed by investment fund managers to facilitate its supervision of the sector during the current market turbulence.
The questionnaire aims to provide the regulator with weekly updates on total net assets, subscriptions and redemptions, and on governance arrangements regarding the activities of managers established in Luxembourg or in other EEA or non-European countries and managing at least one UCITS, alternative investment fund or any other non-AIF fund in view of the specific circumstances and risks to which the managers are exposed to during the current market turbulence.
The aggregated information will assist the CSSF in discussions at European and international level with other authorities and market players to identify issues at an early stage and to assist with their resolution.
Managers are asked to complete the questionnaire by close of business every Wednesday, with the first submission, covering the week from April 13 to 17, to be submitted to the CSSF by close of business on April 22, and the following one, covering April 20 to 24, to be delivered by Wednesday, April 29.
Olivier Sciales
Chevalier & Sciales
Partner
36-38, Grand-Rue,
L1660 Luxembourg
Office: + 352 26 25 90 30
Fax: +352 26 25 83 88
Email: oliviersciales@cs-avocats.lu
website:
www.cs-avocats.lu
Linkedin: http://www.linkedin.com/in/oliviersciales
Twitter: @oliviersciales
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
