Deactivation of the IFM notifications on fund issues and large redemptions via eDesk and of the reporting Early Warning on Large Redemptions

On 25 February 2022, the CSSF implemented a specific monitoring of the circumstances and risks to which investment fund managers (“IFMs”) were exposed to as a result of the prevailing market conditions relating to the situation in Ukraine / Russia. Since then, these IFMs notified the CSSF of significant developments/issues, related decisions and measures taken by IFMs as well as large redemptions for the investment funds they manage.

The information collected allowed the CSSF to perform its ongoing supervision and served the CSSF for the discussions at a European and International level with other authorities and with market players to identify issues at an early stage and to assist with the resolution of these.

In view of the recent evolution of financial markets in general and investment funds/IFMs, the CSSF decided, at the current juncture, to end this ad hoc reporting at the end of February 2024. As a result, the relevant IFMs should provide the last reporting for the reference date 29 February 2024.

In this context, the CSSF reminds that IFMs should proactively inform the CSSF through the usual communication channels of any significant developments/issues affecting their functioning or the investment funds managed.

Finally, the CSSF informs that the reporting “Early Warning on large redemptions”, which is only applicable to a limited number of UCITS that have in the past been contacted directly by the CSSF, will not be reinstated for the time being: this reporting is deactivated with immediate effect.