Regulatory Alerts2021-12-22
CSSF Circular 21/790: Practical Rules for UCI Self-Assessment Questionnaires and Auditor Reporting
The Commission de Surveillance du Secteur Financier issued Circular 21/790 to establish practical rules for Luxembourg undertakings for collective investment regarding annual compliance obligations. The regulation mandates the submission of a self-assessment questionnaire and defines the engagement terms for approved statutory auditors, including requirements for management letters and separate annual reports. These provisions replace previous guidelines to standardize audit procedures and enhance regulatory oversight of collective investment undertakings.
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