CSSF Circular 15/608 - Change of deadline for compliance with CSSF Circular 14/587 and subsequent amendments to this Circular
26 March 2015
Regulatory News Alert
On 23 March 2015, the CSSF published CSSF Circular 15/608 amending CSSF Circular 14/587 applicable to Luxembourg credit institutions acting as depositary of UCITS under Part I of the Law of 17 December 2010.
The purpose of this Circular is to amend point 187 of CSSF Circular 14/587 regarding the deadline for compliance with the provisions of CSSF Circular 14/587 and to inform Luxembourg credit institutions acting as depositaries of UCITS about the subsequent amendments to the Circular.
1) Extended deadline for compliance with CSSF Circular 14/587:
Point 187 of CSSF Circular 14/587 is amended, as follows:
“187: The recipients of this Circular shall comply with the provisions thereof at the latest on 18 March 2016. Chapter E of IML Circular 91/75 shall no longer apply to UCITS as from this date.”
2) Subsequent amendments to CSSF Circular 14/587:
The CSSF will amend in due course and with an effective date of 18 March 2016 CSSF Circular 14/587 in order to adapt its provisions to the depositary aspects of UCITS V Directive and related delegated acts.