Professionals

01 July 2019

Press release 19/28

Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (”PRIIPs”) (hereinafter “Regulation 1286/2014″) has been in application since 1 January 2018.

Regulation 1286/2014 lays down uniform rules on the format and content of the key information document (“KID”) to be drawn up by PRIIP manufacturers and on the provision of the KID to retail investors by PRIIP manufacturers and those selling, or advising on, those products.

As securities or partnership interests issued by Luxembourg regulated investment funds are likely to qualify as PRIIPs, the CSSF would like to obtain an overview of the impact of Regulation 1286/2014 on Luxembourg-regulated investment funds.

The CSSF therefore requires all SlFs, Part ll UCls and SICARs to complete an online assessment available on the eDesk portal as specified in Circular CSSF 19/721 – Dematerialisation of requests to the CSSF.

All information related to user account creation and authentication are detailed on the eDesk portal available at https://www.cssf.lu/edesk.

The CSSF requires completion of the online assessment by 31 October 2019 at the latest.

This assessment replaces the previously published document entitled “Self-assessment confirmation on exclusive professional investor status for the purposes of Regulation EU No 1286/2014 on PRllPs”. SlFs, Part || UCIs and SICARs which have already provided the CSSF with the previously published self-assessment are not exempted from this requirement to send the new document, duly completed, to the CSSF as the new document contains further questions about various issues.

Please note that access to the online assessment will initially be limited to central administrations. Access rights will be given to Management Companies by the end of July 2019 and to other entities/persons at a later stage.