{"id":"circulars/cssf-26-912","title":"Circular CSSF 26/912","type":"circular","date":"2026-05-22","kind":"circular","html":"<p>Circular CSSF 26/912 is a CSSF circular, published 22 May 2026. Subject: Repeal of Circular IML 91/75 related to the revision and remodelling of the rules to which Luxembourg undertakings governed by the Law of 30 March 1988 on undertakings for collective investment (“UCI”) are subject.</p>\n<p>Legal basis: <a href=\"/lhoft?page=laws%2F1988-03-30-n1\" class=\"wikiLink\" data-target=\"laws/1988-03-30-n1\">Law of 30 March 1988 on undertakings for collective investment</a>.</p>\n<p>Relevant for: AIFMs, Credit institutions, Investment firms, Investment fund managers, Management companies - Chapter 15, Management companies - Chapter 16, Part II UCIs, SICARs, SIFs, Specialised PFS, UCITS.</p>\n<p>Keywords: Accounting, NAV calculation, Outsourcing, UCI administration.</p>\n<h2>Text</h2>\n<p>Circular CSSF 26/912 Repeal of Circular IML 91/75 related to the revision and remodelling of the rules to which Luxembourg undertakings governed by the Law of 30 March 1988 on undertakings for collective investment (\"UCI\") are subject</p>\n<p>Circular CSSF 26/912 Repeal of Circular IML 91/75 related to the revision and remodelling of the rules to which Luxembourg undertakings governed by the Law of 30 March 1988 on undertakings for collective investment (\"UCI\") are subject. To all Luxembourg undertakings for collective investment and to all those that take part in the functioning and control of these undertakings</p>\n<p>Luxembourg, 22 May 2026 Ladies and Gentlemen, This circular repeals Circular IML 91/75 related to the revision and remodelling of the rules to which Luxembourg undertakings governed by the Law of 30 March 1988 on undertakings for collective investment (\"UCI\") are subject. Since Circular IML 91/75 was published, the legal framework applicable to UCIs has changed. Some chapters of the circular have been repealed and replaced by other CSSF circulars, whilst others are no longer up to date due to the application of national or European Union rules or have been incorporated into the CSSF’s administrative practice. This circular enters into force with immediate effect.</p>\n<p>The text above is the opening of the document; the PDF carries the whole.</p>\n<p><a href=\"https://www.cssf.lu/en/Document/circular-cssf-26-912/\" target=\"_blank\" rel=\"noreferrer\">Document page</a>, <a href=\"https://www.cssf.lu/wp-content/uploads/cssf26_912eng.pdf\" target=\"_blank\" rel=\"noreferrer\">PDF</a>. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent. The French text prevails.</p>"}