Sustainable Finance: Luxembourg regulator (CSSF) implements
SFDR fast track procedure
The CSSF has alerted Luxembourg-based investment fund managers
about the regulatory requirements arising from Regulation (EU)
2019/2088 on Sustainability-Related Disclosures in the Financial
Services Sector, otherwise known as the SFDR, which will be
applicable from March 10, 2021.
The Luxembourg regulator has announced on December 16, 2020
details of a fast-track approval system for updating funds
prospectuses or offering documents to incorporate sustainability
disclosures, one of the requirements under the regulation.
The SFDR requires managers of UCITS and alternative investment
funds, along with other financial products, to comply with
transparency rules on the incorporation of sustainability risks
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The CSSF has alerted Luxembourg-based investment fund managers
about the regulatory requirements arising from Regulation (EU)
2019/2088 on Sustainability-Related Disclosures in the Financial
Services Sector, otherwise known as the SFDR, which will be
applicable from March 10, 2021.
The Luxembourg regulator has announced on December 16, 2020
details of a fast-track approval system for updating funds
prospectuses or offering documents to incorporate sustainability
disclosures, one of the requirements under the regulation.
The SFDR requires managers of UCITS and alternative investment
funds, along with other financial products, to comply with
To print this article, all you need is to be registered or login on Mondaq.com.
The CSSF has set out in a press release
of December 7 the implications for the fund industry of the end of
the UK s 11-month transition period following its withdrawal
from the EU on January 31.
Up to now EU law and regulations have continued to apply in the
UK and British-domiciled entities have been able to provide
services in Luxembourg under EU single market passporting rights,
but these will expire at the end of the year (December 31, 2020)
.
The CSSF notes that this change will affect all UK managers on a