Difference between revisions of "UCITS Cross-Border Notifications"

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<small>''Page's last update : {{REVISIONDAY2}} {{CURRENTMONTHABBREV}} {{REVISIONYEAR}}''</small>
__TOC__
<div style="text-align: right; direction: ltr; margin-left: 1em;">[[Welcome_to_e-file_and_Fundsquare_FAQ|Home page ]][[File:Home.png|Return homepage|link=Welcome_to_e-file_and_Fundsquare_FAQ]]</div>
<div style="text-align: right; direction: ltr; margin-left: 1em;">[[Welcome_to_e-file_and_Fundsquare_FAQ|Home page ]][[File:Home.png|Return homepage|link=Welcome_to_e-file_and_Fundsquare_FAQ]]</div>
=Introduction=


[[File:CrossBorder GreyedOut.png|alt=UCITS Cross-Border Notifications is greyed out.|thumb|To have access : '''''DOC OPC et FIS''''' group ]]
[[File:CrossBorder GreyedOut.png|alt=UCITS Cross-Border Notifications is greyed out.|thumb|To have access : '''''DOC OPC et FIS''''' group ]]
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[[File:Marketing of share=After.PNG|800 px]]
[[File:Marketing of share=After.PNG|800 px]]


<br>
=== New -  March 2024 ===
The legend has been updated to provide further detail regarding the functionality and statuses of the registration matrix:<br>
[[File:Legends 1.jpg||900 px]]<br><br>
[[File:Legends.png||400 px]]<br>




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[[File:Marketing of share - Manage Country = After.PNG|800 px]]
[[File:Marketing of share - Manage Country = After.PNG|800 px]]


==Document Management==
==Document Management==
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[[File:User Library = Before-After.png|800 px]]
[[File:User Library = Before-After.png|800 px]]


 
<br>
<u>'''Note:</u>'''<br>
In order to submit a cross-border registration notification on e-file, the reference date of the required uploaded documentation has to correspond with the CSSF records. <br>
The reference date of a document (for example Prospectus) of a Luxembourg domiciled umbrella can be found on https://www.fundsquare.net/ via the ‘‘Fund Information’’ section, '''Documents ''' tab <br><br>
[[File:FSQFundInformationDocument.png|600 px]]


==Notification Letters and transmission==
==Notification Letters and transmission==
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[[File:Notification letters - Complete the Letter = After.PNG|800 px]]
[[File:Notification letters - Complete the Letter = After.PNG|800 px]]


=== New -  March 2024 ===
-       Update of the notification letter web form to comply with the latest published template from the CSSF.
 Additional fields added to the letter:


* LEI code of the UCITS or sub-fund: can be filled via the FSQ suggestion if available.
* LEI code of the Management company: can be filled via the FSQ suggestion if available.
* Contact point for the invoicing or the communication of any application fee or charges: pre-filled with the data from “Details of contact person at the management company”
** Name
** Name of the company
** Position
** Address
** Phone number
** Email
* Document attached: Evidence of payment (if required)
* Information on the facilities to perform referred to in Article 93(1) of Directive 2009/65/EC
** Process, subscriptions, repurchase, redemption orders and other payments
** Provision of information on orders, repurchase and redemption proceeds
** Handling of information and access to procedures and arrangements
** Make required information and documents available
** Provision of information relevant to the tasks that the facilities perform in a durable medium<br />


=De-registration=
=De-registration=
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[[File:2.3 – De-registration.png|800 px]]
[[File:2.3 – De-registration.png|800 px]]




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===Documents Settings and Transmission===
===Documents Settings and Transmission===
</br>
<br>
<span style="color: red">NEW FUNCTIONALITIES</span></br>
<span style="color: red">NEW FUNCTIONALITIES</span><br>
You can now either select a QUICK transmission or an ADVANCED transmission.</br>
You can now either select a QUICK transmission or an ADVANCED transmission.<br>
</br>
<br>
1) For the '''QUICK''' transmission, select the country and upload the completed de-registration zip file.
1) For the '''QUICK''' transmission, select the country and upload the completed de-registration zip file.
</br>
<br>
<span style="color: red">Since 2nd January 2024, your zip file must contain a JSON file.</span> [https://www.cssf.lu/wp-content/uploads/User_guide_notifications_CBDF.pdf following the CSSF CBD user guide ]</br>
<span style="color: red">Since 2nd January 2024, your zip file must contain a JSON file.</span> [https://www.cssf.lu/wp-content/uploads/User_guide_notifications_CBDF.pdf following the CSSF CBD user guide] <br>
Should you are not able to produce it on your own, please use the '''ADVANCED''' transmission mode
Should you are not able to produce it on your own, please use the '''ADVANCED''' transmission mode
</br>
<br>
[[File:UCITS_Denotif_QuickAdvanced.png|800 px]]
[[File:UCITS_Denotif_QuickAdvanced.png|800 px]]
</br>
<br>


===Select a Country===
===Select a Country===
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===File Selection and De-registration===
===File Selection and De-registration===


The user should “Drag&Drop” or “Browse” the zip document and click on “De-Register”.</br>
The user should “Drag&Drop” or “Browse” the zip document and click on “De-Register”.<br>
'''Note''' : Please note the CSSF expects to receive a zip containing only denotifcation letter. No sub-folder is accepted.</br>
'''Note''' : Please note the CSSF expects to receive a zip containing only denotifcation letter. No sub-folder is accepted.<br>
</br>
<br>
[[File:2.3.2.2 – File Selection and De-registration.jpg|800 px]]</br>
[[File:2.3.2.2 – File Selection and De-registration.jpg|800 px]]<br>
</br>
<br>
 
2) For the '''ADVANCED''' transmission, select the country, the share-class(es) and upload the documents.<br>
<br>
[[File:UCITS Denotif Advanced.png|800 px]]<br>
<br>
When you upload the documents (PDF not zip archive), you need to select the type, the language, the instrument and the reference date:
<br>
[[File:UCITS Denotif Advanced Upload.png|800 px]]<br>
<br>
 
 
=== New -  March 2024 ===
<br>
As per the CBDF it is permitted to deregister share classes with remaining investors, if certain requirements are adhered to. <br>
This functionality is now available via the advanced de-registration transmission method. <br>
Upon selecting the share classes you wish to deregister, the user can toggle the below button to indicate if investors remain within the share class:
 
[[File:De-Registration 1.jpg||800 px]]<br><br>
If you select that no investors remain, then the status of the share class will update to RX once the deregistration is approved. <br>
If you select that investors do remain, then the status of the share class will update to XR once the deregistration is approved.<br>
[[File:De-Registration 2.jpg||600 px]]<br>
 
 
=== New -  April2024 ===
As required by the CBDF, de-registrations take 15 working days from the point of submission to take effect. <br>
The advanced de-registration transmission method will now automatically select an expected date of de-registration and be pre-populated with the date that is 15 working days from “today”. <br>
Should the user require the de-registration to take effect further than 15 working days from “today” then they can select a date that is further away using the calendar option. <br>
<br>
The status XR or RX will take effect from the selected date.<br>
Update of the notification letter web form to comply with the latest published template from the CSSF.<br>
[[File:De-Registration 3.png||800 px]]<br>


2) For the '''ADVANCED''' transmission, select the country, the share-class(es) and upload the documents.</br>
<br><br>
</br>
Please note it is not possible to select a date that is less than 15 working days.
[[File:UCITS Denotif Advanced.png|800 px]]</br>
</br>
When you upload the documents, you need to select the type, the language, the instrument and the reference date:
</br>
[[File:UCITS Denotif Advanced Upload.png|800 px]]</br>
</br>


===Confirm or Cancel===
===Confirm or Cancel===

Latest revision as of 15:31, 19 September 2024

Page's last update : 19 Nov 2024

Home page Return homepage
UCITS Cross-Border Notifications is greyed out.
To have access : DOC OPC et FIS group
Your module is greyed out? :

To get access to this module, please ask your e-file local administrator to make you member of the Doc OPC et FIS (circ. CSSF) and Doc OPC non luxembourgeois groups.

Main Page

Main Page My Last 50 Notification After.PNG


HomePage

HomePage-Action buttons Before-After.PNG


Rejected notifications

Rejected Notification After.PNG


Main Page – Notification Search - Filters

Notification Search-Filters Before-After.PNG



Notification Process

Fund Selection

Fund Selection=After.PNG


Filters

Fund selection-Filter=After.PNG


Marketing of Shares

Marketing of share=After.PNG


New - March 2024

The legend has been updated to provide further detail regarding the functionality and statuses of the registration matrix:
Legends 1.jpg

Legends.png


Filters

Marketing of share - Filters =After.PNG


Select Cells

Marketing of share - Select Cells=After.PNG


Manage Country

Marketing of share - Manage Country = After.PNG

Document Management

Document Management = After.PNG


Manage all documents

Manage all document = Before-After.png


Import

Import=After.PNG


Set Bulk Parameters

Set Bulk Parameters.PNG


Fundsquare Library

Fundsquare Library=Before-After.png


User Library

User Library = Before-After.png


Note:
In order to submit a cross-border registration notification on e-file, the reference date of the required uploaded documentation has to correspond with the CSSF records.
The reference date of a document (for example Prospectus) of a Luxembourg domiciled umbrella can be found on https://www.fundsquare.net/ via the ‘‘Fund Information’’ section, Documents tab

FSQFundInformationDocument.png

Notification Letters and transmission

Notification letters = After.PNG


Errors

Notification letters - Errors = After.PNG


View Content

Notification letters - View Content = After.PNG


Complete the Letter

Notification letters - Complete the Letter = After.PNG

New - March 2024

-       Update of the notification letter web form to comply with the latest published template from the CSSF.

 Additional fields added to the letter:

  • LEI code of the UCITS or sub-fund: can be filled via the FSQ suggestion if available.
  • LEI code of the Management company: can be filled via the FSQ suggestion if available.
  • Contact point for the invoicing or the communication of any application fee or charges: pre-filled with the data from “Details of contact person at the management company”
    • Name
    • Name of the company
    • Position
    • Address
    • Phone number
    • Email
  • Document attached: Evidence of payment (if required)
  • Information on the facilities to perform referred to in Article 93(1) of Directive 2009/65/EC
    • Process, subscriptions, repurchase, redemption orders and other payments
    • Provision of information on orders, repurchase and redemption proceeds
    • Handling of information and access to procedures and arrangements
    • Make required information and documents available
    • Provision of information relevant to the tasks that the facilities perform in a durable medium

De-registration

The user can start a de-registration by clicking on “De-registration” button.

2.3 – De-registration.png


Fund selection

Upon click on “De-registration” the user must select one of the funds. There is an action: “Deregister”

2.3.1 – Fund selection.jpg


Documents Settings and Transmission


NEW FUNCTIONALITIES
You can now either select a QUICK transmission or an ADVANCED transmission.

1) For the QUICK transmission, select the country and upload the completed de-registration zip file.
Since 2nd January 2024, your zip file must contain a JSON file. following the CSSF CBD user guide
Should you are not able to produce it on your own, please use the ADVANCED transmission mode
UCITS Denotif QuickAdvanced.png

Select a Country

The user must select the wanted country

2.3.2.1 – Select a Country (1).jpg

2.3.2.1 – Select a Country (2).jpg


File Selection and De-registration

The user should “Drag&Drop” or “Browse” the zip document and click on “De-Register”.
Note : Please note the CSSF expects to receive a zip containing only denotifcation letter. No sub-folder is accepted.

2.3.2.2 – File Selection and De-registration.jpg

2) For the ADVANCED transmission, select the country, the share-class(es) and upload the documents.

UCITS Denotif Advanced.png

When you upload the documents (PDF not zip archive), you need to select the type, the language, the instrument and the reference date:
UCITS Denotif Advanced Upload.png


New - March 2024


As per the CBDF it is permitted to deregister share classes with remaining investors, if certain requirements are adhered to.
This functionality is now available via the advanced de-registration transmission method.
Upon selecting the share classes you wish to deregister, the user can toggle the below button to indicate if investors remain within the share class:

De-Registration 1.jpg

If you select that no investors remain, then the status of the share class will update to RX once the deregistration is approved.
If you select that investors do remain, then the status of the share class will update to XR once the deregistration is approved.
De-Registration 2.jpg


New - April2024

As required by the CBDF, de-registrations take 15 working days from the point of submission to take effect.
The advanced de-registration transmission method will now automatically select an expected date of de-registration and be pre-populated with the date that is 15 working days from “today”.
Should the user require the de-registration to take effect further than 15 working days from “today” then they can select a date that is further away using the calendar option.

The status XR or RX will take effect from the selected date.
Update of the notification letter web form to comply with the latest published template from the CSSF.
De-Registration 3.png



Please note it is not possible to select a date that is less than 15 working days.

Confirm or Cancel

The user can confirm or cancel the de-registration

2.3.2.3 – Confirm or Cancel.jpg

Confirmation pop-up

By clicking on “Transmission follow up module” the user is redirect to this module.

2.3.2.4 – Confirmation pop-up.jpg


Feedback

Any feedback from the CSSF will be found in the Transmission follow-up. These are in 3 files:

1. NOTFBR
2. NOTFDB
3. NOTFBH

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