Investment firms now face a new data entry requirement, with CSSF enacting a fresh form for such transactions.
The Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg has introduced a new process for investment firms to communicate changes in information more efficiently.
Starting from now, any changes subject to prior authorization or notification must be communicated through a dedicated data entry form. This form, an Excel-based document, includes various sheets tailored to different types of update or change requests. Investment firms are required to complete the relevant sheet and can also attach supporting documents in PDF format.
The submission of this completed data entry form, along with any supporting PDFs, is made via the firm's dedicated folder on the CSSF’s secure Managed File Transfer (MFT) platform. It is essential to use this Excel-based dedicated form; any changes not submitted using this format will not be processed by the CSSF.
In addition, for investment fund managers (IFMs) managing non-CSSF-authorized funds, notifications about fund management or significant changes must be submitted electronically through the CSSF’s eDesk platform, providing detailed information for each fund and associated service providers. Timing requirements differ by IFM type, including immediate notification of significant changes.
To summarise the format and process:
- Use the CSSF-dedicated Excel data entry form, completing the appropriate sheets corresponding to the update or change.
- Attach supporting documents in PDF format within the same file or upload separately in a sub-folder on MFT.
- Submit the complete package electronically via MFT to the CSSF.
- For fund-specific notifications related to non-authorized funds, use the CSSF's eDesk platform submitting detailed electronic notifications as required.
This process aims to optimise regulatory oversight and ensure comprehensive, current information is retained by the CSSF with standardised digital submissions. The CSSF provides a dedicated Excel-based file for various request situations, and supporting documents in PDF format can be inserted into the dedicated file, where appropriate.
The new process falls under the main topic of MiFID II/MiFIR. This streamlined approach is expected to facilitate communication between investment firms and the CSSF, ultimately enhancing regulatory compliance and oversight.
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