PRIIPs self-assessment

Article

PRIIPs self-assessment: Deadline reminder from the CSSF

25 October 2019

Regulatory News Alert

Context and objectives

On 18 October 2019, the Commission de Surveillance du Secteur Financier (CSSF) issued a new communication reminding all SIFs, Part II UCIs and SICARs to complete an online assessment, with regard to previous CSSF Press Release 19/50 and the impact of Regulation 1286/2014 (PRIIPs) on PRIIPs manufacturers, by 31 October 2019 at the latest.

In this new Press Release 19/50, the CSSF emphasizes again that the completion of the assessment is mandatory and addressed to all active and non-active SIFs, Part II UCIs and SICARs. There is no exemption of any form from the requirement of submitting the new assessment, which also includes the following cases:

  • They have already provided the “self-assessment confirmation on exclusive professional investor status for the purposes of Regulation EU No 1286/2014 on PRIIPs”; or
  • They are reserved for professional investors;
  • Their shares or units are no longer being advised on, or offered or sold to investors.

Submission is available online on the eDesk portal, which can only be done by the entities concerned (SIFs, Part II UCIs and SICARs), their central administrations and management companies.

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Additional information

The request to file this PRIIPs assessment via eDesk is in line with the “digitalization” of the CSSF, announced on 5 September, 2019.

Furthermore, from 1 November 2019, requests for UCI approval will only be submitted via eDesk.

Please refer to Deloitte’s previous communication on the CSSF’s PRIIPs assessment for more information.

How can Deloitte help?

Deloitte’s advisory specialists and dedicated services will help you design and implement your business strategy in light of the future evolution of the regulatory framework and market trends.

With a broad array of services, our PRIIPs KID Reporting Services can help PRIIPs manufacturers comply with upcoming PRIIPs requirements.

Deloitte Regulatory Watch Kaleidoscope service will help you stay ahead of the regulatory curve to better manage and plan upcoming regulations.

Contacts

Subject matter specialists

Lou Kiesch
Partner – Regulatory Consulting
Leader
Tel : +352 45145 2456
lkiesch@deloitte.lu

Lize Griffiths
Partner – Real Estate Industry
Leader
Tel : +352 45145 2693
lizgriffiths@deloitte.lu

Sylvain Crepin
Partner – Capital Markets/Financial
Risk
Tel : +352 45145 4054
screpin@deloitte.lu

François-Kim Hugé
Partner – Fund Registrations Services
Tel : +352 45145 2483
fkhuge@deloitte.lu

Nick Tabone
Partner – Private Equity Leader
Tel : +352 45145 2264
ntabone@deloitte.lu

Xavier Zaegel
Partner – Capital Market/Financial Risk Leader
Tel : +352 45145 2748
xzaegel@deloitte.lu

 

Regulatory Watch Kaleidoscope service

Simon Ramos
Partner – IM Advisory & Consulting
Leader
Tel : +352 45145 2702
siramos@deloitte.lu

Benoit Sauvage
Director – RegWatch, Strategy & Consulting
Tel : +352 45145 4220
bsauvage@deloitte.lu

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