The Luxembourg Commission de Surveillance du Secteur Financier has launched a questionnaire applying to investment fund managers established both in Luxembourg and abroad, managing at least one UCITS, AIF and/or any other UCI (not qualifying as an AIF) (the IFMs).
The aim is to enable the CSSF to continue its ongoing supervision of the investment fund sector during the current period of market turbulence.
IFMs will have to provide the CSSF with weekly updates on the financial data of the funds managed (total net assets, subscriptions and redemptions) and an update on governance arrangements in relation to their activities.
The collected information (on an aggregated basis) will also serve the CSSF in its discussions with other authorities at both European and international level to identify issues at an early stage and to assist market players.
The questionnaire must be filed with the CSSF on a weekly basis by Wednesday close of business (COB) at the latest.
The first questionnaire, covering the week from April 13-17, 2020 must be submitted to the CSSF by COB on April 22, 2020.
The subsequent questionnaire, covering the week from April 20-24, 2020 must be submitted to the CSSF by COB on April 29, 2020.
All filings shall be submitted to the CSSF in accordance with the general principles outlined in the User Guide available in the eDesk portal.
The IFM must have a LuxTrust authentication to submit the questionnaire via the eDesk portal. If not available, the IFM can mandate a Luxembourg-based service provider to deal with the submission of the questionnaire on its behalf.
The questionnaire submission process continues on a weekly basis until further notice by the CSSF.
Further details can be found in the CSSF’s Press Release.