Regulatory Alerts2022-01-31
Added · Updated
CSSF Circular 22/795 on ESMA Guidelines for Marketing Communications under the CBDF Regulation
The CSSF integrates the ESMA Guidelines on marketing communications (ESMA34-45-1272) into its administrative practices and requires all Luxembourg investment fund managers (IFMs) to comply with these guidelines. The requirements apply to marketing communications under Regulation (EU) 2019/1156, including online aspects, and mandate that communications clearly identify themselves as such, describe risks and rewards equally prominently, and remain fair, clear, and not misleading. The CSSF will collect information from IFMs and conduct testing to verify compliance with Article 4 of the CBDF Regulation and the Guidelines. This Circular applies as of 2 February 2022.
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