Regulatory notices

Yesterday, the “Conseil d’Etat” has examined the draft Law implementing the Directive (EU) 2021/2261 amending Directive 2009/65/EC as regards the use of KID by management companies of UCITS and the Regulation (EU) 2021/2259 of 15 December 2021 amending the PRIIPS Regulation as regards the extension of the transitional arrangement for management companies, investment companies and persons advising on, or selling, units of UCITS and non-UCITS (Regulation).

Yesterday, the CSSF published a Communiqué informing the public of the forthcoming launch of the Common Supervisory Action (CSA) on valuation of UCITS and open-ended AIFs (“CSA on valuation”). This announcement follows the ESMA communication on this topic released last week.

The CSA exercise led by the CSSF will focus on authorised investment fund managers of UCITS and open-ended AIFs investing in less liquid assets.

LU – The CSSF published last Friday a White Paper on Distributed Ledger Technologies (DLT) and Blockchain with the aim to guide its supervised entities to conduct their due diligence process related to the DLT and its use in the provision of services.

ESMA announced yesterday the forthcoming launch of a Common Supervisory Action with National Competent Authorities (NCAs) on valuation of UCITS and open-ended AIFs.

Yesterday the BaFin published an updated German version of its Guidance Notice on the marketing pursuant to section 330 of the Investment Code (KAGB) of foreign AIF or EU AIF. The previous update of this guidance notice was made in 2018. Currently only the German version is available on the BaFin website.

An English translation may be provided upon request.

Yesterday, the Commission de Surveillance du Secteur Financier updated its Notification letter for pre-marketing activities of non-EU AIFMs.

Last Friday, the CSSF published the UCITS identifier codes to be used in the Risk Reporting as of December 2021.

The Banque de France published on Friday an updated version of its OPC2 “Contrôle métier” file only a few days after the preceding update.

The Banque de France yesterday published several revised documents on OPC2, the new reporting framework for French and Monaco collective investment schemes.

We have identified the following changes: