Circular CSSF-CPDI 25/44 is a CSSF circular, published 15 January 2025. Subject: Survey on covered claims in connection with investment business – mode of transmission.
\nRelevant for: AIFMs, Credit institutions, Investment firms, Investment fund managers, Management companies - Chapter 15, Management companies - Chapter 16.
\nKeywords: Depositor and Investor Protection Board (CPDI), eDesk, Investor Compensation Scheme Luxembourg (SIIL).
\nCircular CSSF-CPDI 25/44 Update of Circular CSSF-CPDI 16/03 regarding the Survey on covered claims in connection with investment business – mode of transmission
\nTo all credit institutions and investment firms incorporated under Luxembourg law, to the branches of non-EU credit institutions and investment firms, as well as to UCITS management
\ncompanies
\nand
\nalternative
\ninvestment
\nfund
\nmanagers
\nwhose
\nauthorisation includes the management of portfolios on a discretionary, client-by-client basis
\nLuxembourg, 15 January 2025 Ladies and Gentlemen, 1. The objective of this circular is to amend Circular CSSF-CPDI 16/03 regarding the Survey on covered claims in connection with investment business by specifying the new modes of transmission of the reporting. 2. The amendments also clarify certain terms relating to the identification and indemnification of accounts where the holder is different from the person absolutely entitled for the purpose of the “Système d’indemnisation des investisseurs Luxembourg” (“SIIL”) guarantee by taking into account the modifications brought by Circular CSSF-CPDI 23/35 to Circular CSSF-CPDI 16/02 on the scope of the deposit guarantee and the investor compensation. 3. Circular CSSF-CPDI 16/03 is amended in accordance with the annex to this circular. The annex includes the changes introduced by this circular to Circular CSSF-CPDI 16/03 in tracked changes in order to facilitate the reading and comprehension. 4. Circular CSSF-CPDI 17/07 is repealed. Yours sincerely,
\nOn behalf of the CPDI Claude WAMPACH Chair of the CPDI
\nCIRCULAR CSSF-CPDI 25/44 Update of Circular CSSF-CPDI 16/03 regarding the Survey on covered claims in connection with investment business – mode of transmission
\nLuxembourg, 18 October 2016
\nTo all credit institutions and investment firms incorporated under Luxembourg law, to the branches of non-EU credit institutions and investment firms, as well as to UCITS management companies and to alternative investment fund managers whose authorisation includes the management of portfolios on a discretionary, client-by-client basis
\nRe : Survey on covered claims in connection with investment business – transmission
\nmode of
\nLadies and Gentlemen, 1. Pursuant to Article 197(10) of the amended law of 18 December 2015 on the failure of credit institutions and certain investment firms (hereinafter “law of 2015”), the “Conseil de protection des déposants et des investisseurs” (“CPDI”) requests data as defined below from the members of the “Système d’indemnisation des investisseurs Luxembourg” (“SIIL”) for the purpose of calculating the share of the contribution that each member would have to make in accordance with Article 198 of the law of 2015, should a compensation by the SIIL happen. For the purpose of this circular, UCITS management companies and alternative investment fund managers are assimilated to investment firms to the extent that they manage portfolios on a discretionary, client-by-client basis; therefore, they are also required to provide data on covered claims in connection with investment business. 2. The data survey aims at collecting the volume of covered claims (instruments and money) in relation to investment business of which members are would be debtors should they be unable to repay money owed or return instruments belonging to investors, in accordance with Article 198195(1) of the law of 2015. Members incorporated under Luxembourg law shall include in their data the covered claims (instruments and money) arising from their branches located in other European Economic Area Member States.
\nThe text above is the opening of the document; the PDF carries the whole.
\nDocument page, PDF. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent. The French text prevails.
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