Communiqué

New notification template for delegating critical or important tasks related to UCI administration

The CSSF published a notification template (“the template”) to be used as of 24 August 2022 by entities in scope of Circular CSSF 22/811 when delegating a critical or important operational task relating to UCI administration, in accordance with point 100 of Circular CSSF 22/811. The template replaces the previous application form: Application in case of outsourcing of administration tasks for UCI. Please note that such template will no longer be available in French.

The template shall be used by entities in scope of Circular CSSF 22/811 and, where applicable, Circular CSSF 22/806, to notify the CSSF in advance in the following cases:
(a) planned, new critical or important outsourcing arrangements;
(b) material changes to existing critical or important outsourcing arrangements; and
(c) changes to outsourcing arrangements that lead to an outsourced function becoming critical or important.

IFMs are subject to Circular CSSF 22/811, especially point 100, when outsourcing a critical or an important function relating to operational tasks of administration of UCIs. However, IFMs are not in scope of Circular CSSF 22/806 when outsourcing critical or important functions other than ICT. In consequence, IFMs should only fill out sections 1, 2, 3, 4.1-4.4, 5, 6.1-6.4, 7, 8, 9 and 11, where applicable, of the template.

For any questions, please consider the preliminary remarks and general principles contained in the template or liaise with your usual contact person within the CSSF.