Regulatory Alerts2021-12-22
Added · Updated
Practical rules for UCI self-assessment questionnaires and auditor reporting
Luxembourg undertakings for collective investment (UCITS, Part II UCIs, SIFs, and SICARs) must annually submit a self-assessment questionnaire via the eDesk portal, with deadlines of three months for UCITS and four months for other entities. Approved statutory auditors (REAs) are required to issue a management letter and a separate report, which must be submitted by the UCI's executives within four to six months depending on the entity type. The circular mandates that UCIs spontaneously transmit a letter to the regulator within one month of annual report publication if the REA issues a modified audit opinion. These requirements apply to financial years closing on or after 30 June 2022, with the separate report obligation for SIFs and SICARs deferred until financial years closing on or after 30 June 2023.