Regulatory Alerts2024-03-29
Circular CSSF 24/856 — Protection of investors in case of an NAV calculation error, an instance of non-compliance with the investment rules and other errors at UCI level
The Commission de Surveillance du Secteur Financier issued Circular CSSF 24/856 to establish regulatory requirements for protecting investors when Undertakings for Collective Investment experience NAV calculation errors or non-compliance with investment rules. This circular supersedes the previous Circular CSSF 02/77 and mandates specific procedures for identifying, reporting, and correcting the consequences of such errors at the UCI level. The regulation ensures that investors are compensated or protected against financial losses resulting from these operational or compliance failures.
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