About the Regulatory Blog and our contributors
The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Anguilla, Bermuda, Cyprus, and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.
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CSSF issues new guidelines for investor protection in collective investment undertakings
On 29 March 2024, Luxembourg’s Commission de Surveillance du Secteur Financier issued Circular CSSF 24/856, replacing Circular CSSF 02/77.
08 Apr 2024
CSSF updates FAQ for guidelines for UCIs investing in Virtual Assets
On 22 February 2024, the Commission de Surveillance du Secteur Financier revised its FAQ on Virtual Assets for Undertakings for Collective Investment relating to the promotion of UCIs engaged in direct or indirect investment in virtual assets.
11 Mar 2024
EU reaches provisional agreement on AIFMD II and UCITS “plain-vanilla EU investment funds”
On 20 July 2023, negotiators from the European Council and the European Parliament reached a provisional agreement on new regulations aimed at improving European capital markets and strengthening investor protection in the EU. The agreement focuses on revising the Alternative Investment Fund Managers Directive (AIFMD), broadly referred to as AIFMD II, which governs managers of various investment funds including hedge funds, private equity funds, and real estate funds in the EU. Additionally, it modernises the framework for “plain-vanilla” EU-harmonised retail investment funds known as undertakings for collective investment in transferable securities (UCITS).
23 Aug 2023
Cyprus is in the process of establishing an independent authority for monitoring EU sanctions
On 9 June 2023, the Minister of Justice and Public Order of Cyprus, Anna Koukkidi-Prokopiou announced, during the Justice and Home Affairs Council session of the EU held in Luxemburg, that a new independent authority tasked with monitoring the implementation of EU sanctions in Cyprus is in the process of being established.
22 Jun 2023
New era of crypto regulations: MiCA and travel rule regulations published in the Official Journal, MiCA overview guide included
On 9 June 2023, EU Regulation 2023/1114 on Markets in Crypto Assets (MiCA) and EU Regulation 2023/1113 on information accompanying transfers of funds and certain crypto-assets (Travel Rule Regulation) were published in the Official Journal of the European Union.
13 Jun 2023
Luxembourg - Filing of 2022 questionnaire on financial crime with the CSSF
As previously announced the CSSF confirmed that the annual online questionnaire for the year 2022, collecting standardised key information concerning money laundering and terrorism financing risks to which the professionals under supervision are exposed, and which forms part of the AML/CFT risk-based approach put in place by the CSSF, will be launched on 15 February 2023.
10 Feb 2023
Luxembourg issues a General Licence in relation to dealings with Russia’s National Settlement Depositary (deadline of 7 January 2023 applies)
On 16 December 2022, the Luxembourg Ministry of Finance (the Ministry) issued a General Licence in connection with the derogation for the National Settlement Depositary (NSD) under the EU’s core asset freeze legislation, EU Regulation 269/2014 (Regulation 269).
05 Jan 2023
CSSF launched a Standardised Model Prospectus for examination for approval of new UCITS
On 17 November 2022, Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) issued a press release announcing the availability of a Standardised Model Prospectus that applicants can use to submit an application for approval of a new UCITS.
29 Nov 2022
CSSF clarifies for the opening of cash accounts in relation to Luxembourg AIFs
On 18 October 2022, the Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) published a communication providing clarification regarding eligible entities for the opening of cash accounts in relation to the alternative investment funds.
25 Nov 2022