Circular CSSF 25/871 is a CSSF circular, published 7 February 2025. Subject: Update of Circular CSSF 15/627.
\nLegal basis: Law of 17 December 2010 on undertakings for collective investment, Law of 13 February 2007 on specialised investment funds, Law of 15 June 2004 on the investment company in risk capital (SICAR).
\nRelevant for: Part II UCIs, SICARs, SIFs, UCITS.
\nAmends Circular CSSF 15/627.
\nCircular CSSF 25/871 Update of Circular CSSF 15/627 To all Luxembourg undertakings for collective investment (UCITS, Part II UCIs, SIFs, SICARs)
\nLuxembourg, 7 February 2025 Ladies and Gentlemen, This circular amends Circular CSSF 15/627 implementing a new monthly reporting to the CSSF – U 1.1 reporting. The annex of Circular CSSF 15/627 is now published separately from the circular on the CSSF website.
\nThe amendments to Circular CSSF 15/627 are shown in “track changes” hereafter.
\nAnnex
\nTo all Luxembourg undertakings for collective investment (UCITS, Part II UCIs, SIFs, SICARs)
\nRe: New monthly reporting to the CSSF - U 1.1 reporting Ladies and Gentlemen, The purpose of the present circular is to implement a new monthly reporting (hereafter “U 1.1 reporting”) in the regulatory framework applicable to Luxembourg domiciled undertakings for collective investment subject to the law of 17 December 2010 (“UCI law”), specialised investment funds (SIFs) subject to the law of 13 February 2007 (“SIF law”) and investment companies in risk capital (“SICARs”) subject to the law of 15 June 2004 (“SICAR law”). The monthly information that has to be submitted to the CSSF by the UCITS, UCIs subject to part II of the UCI law, SIFs and SICARs (hereafter “UCIs”) in accordance with Article 147 of the UCI law, Article 58 of the SIF law and Article 32 of the SICAR law will be used by the CSSF for statistical and supervisory purposes. The U 1.1 reporting is largely based on the monthly financial information (“table O 1.1”) that is currently submitted to the CSSF in accordance with LMI Circular 97/136 “Financial information for the LMI and STATEC” and CSSF Circular 07/310 “Financial information to be provided by specialised investment funds (“SIF”)”, as amended by CSSF Circular 08/348. The aim of the present circular is mainly to extend the scope of the existing monthly reporting to SICARs, to enhance the content of the reporting in terms of financial, functional and descriptive information and to change the format to Extensible Markup Language (XML). 1.
\nOverview of the main changes to the monthly reporting
\n1.1. Scope In addition to the reporting requirements laid down in CSSF Circular 08/376, SICARs are required to submit the U 1.1 reporting as set forth in this circular.
\n1.2. Financial data enhancement The monthly information required to be drawn up in accordance with this circular includes the same data as currently required by LMI Circular 97/136 and CSSF Circular 07/310, as amended by CSSF Circular 08/348, supplemented with information on the results of operations and on each unit / share class. For more information please refer to sections 5 and 6 of the appendix Annex to this circular, which is published on the CSSF website and kept up-to-date. 1.3. Status of information provided This circular introduces the concept of “reporting status” whereby the UCI has to choose one of the following options: “final”, “provisional” or “null report”. The reporting obligation for each UCI1 starts as from its date of authorisation. In other words, a UCI that is authorised by the CSSF on a certain date during a month has to submit the U 1.1 reporting for the very first time for this reference month. 1.4. Functional information in order to facilitate the exchange of information between the UCIs and the CSSF The U 1.1 reporting collects information on the launch and closing dates of the UCI and its units/share classes in order to serve as a supplementary communication channel between UCIs and the CSSF. 1.5.
\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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