On September 1st 2014, the Commission de Surveillance du Secteur Financier (the "CSSF") published Press Release 14/47 (the "Press Release") relating to the introduction of a new form "Application questionnaire to set up an UCITS" (the "New Application Questionnaire"). This New Application Questionnaire replaces the current form "Application questionnaire for the setup of an undertaking for collective investment" and has to be used as from September 1st 2014 for submitting to the CSSF an application for approval to set-up an UCITS.
The New Application Questionnaire is an Excel spreadsheet where all the contents and topics necessary for the examination of a file are compiled in different tabs, each tab offering a series of footnotes and drop-down lists. The CSSF advises the applicants to file their application only once all the components of the projects are fully available and stable; otherwise the start or the swift progress of the approval process may be jeopardized and unexpected delays may occur.
Application files are to be submitted by electronic means and in case of application filed via e-mail a nomenclature specified in the "Documents" tab of the New Application Questionnaire has to be followed to name the e-mail and the documents in attachment.
Requests in preparation using the previous application form were accepted by the CSSF until September 30th 2014 but after this date the use of the New Application Questionnaire is mandatory.
The Press Release and application questionnaire are available at: http://www.cssf.lu/fileadmin/files/Publications/Communiques/Communiques_2014/ PR1447_OPCVM_Application_questionnaire_010914_EN.pdf
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.
