PRIIPS

PRIIPS

General

The Luxembourg supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF), issued a new version of its Frequently Asked Questions 6 July 2017 concerning the alternative investment fund mangers and alternative investment funds (AIFs) that are established in Luxembourg.

According the Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents (KIDs) for packaged retail and insurance-based investment products, all PRIIPs manufacturers must make available a PRIIPs KID to retail investors before they invest in these PRIIPs (including investment funds). The CSSF confirmed that manufacturers of Luxembourg AIFs have to issue this PRIIPs KID as of 1 January 2018.

Furthermore, the CSSF also advised that « the final version of a PRIIPs KID must be filed by adhering to the instructions provided in Circular CSSF 08/371 and in Circular CSSF 11/509 and by applying the nomenclature detailed in the information that is provided under the following link :Transmission électronique de documents à la CSSF"