Regulatory Alerts2020-12-30
CSSF Regulation No 20-10 Implementing Measures for Marketing Foreign Non-Closed-End UCIs to Retail Investors in Luxembourg
The Commission de Surveillance du Secteur Financier (CSSF) issues Regulation No 20-10 to establish the authorization procedure and conditions for marketing foreign non-closed-end undertakings for collective investment to retail investors in Luxembourg. Applicants must submit a detailed authorization request including a prospectus addendum, PRIIPs key information document, annual report, and officer credentials, while demonstrating that their manager is prudentially supervised and that the fund adheres to strict risk-spreading and pricing frequency rules. Once authorized, funds must maintain ongoing compliance, promptly notify the CSSF of material changes, ensure investor information is accessible in Luxembourg, and follow specific protocols for terminating marketing or facing authorization withdrawal.