Published on 6 March 2025
Communiqué

Upcoming evolution in the electronic VISA “stamp” procedure for the prospectuses of UCITS, Part II UCIs, SICARs and SIFs

In April 2025, a new “e-Identification” system will replace the current VISA procedure for the prospectuses of UCITS, Part II UCIs, SICARs and SIFs. This new e-Identification of fund prospectuses will be composed of:

  • a unique identification number (YYYY/NNNNNN-NNNNNN-N-PC) and
  • an e-Identification date.

Both will be visible on the first page of the prospectus. The submission for identification of any new or revised fund prospectus will transition through the dedicated eDesk e-Identification Prospectus application.

The implementation of the new e-Identification Prospectus application is accompanied by a change in our administrative procedure. A list of amendments to the prospectus, which do not legally require authorisation and prior review by the CSSF, has been established. Amendments covered by this list can be integrated into the prospectus without prior approval from the CSSF. A guide, available via eDesk, will include details on the new procedure, the list of amendments to the prospectus, which do not legally require authorisation and prior review by the CSSF, the applicable conditions and a FAQ section.

Please note that the CSSF may at its discretion at a later stage, based on its risk-based approach, request documents in order to conduct an ex-post analysis of changes that have not been subject to its prior review.

Beyond modernising the CSSF’s administrative procedure while enhancing efficiency and ensuring compliance, the CSSF promotes an approach that emphasises the responsibility of the governing body of the fund to ensure compliance with regulatory requirements for the fund products and their related documentation.

The current administrative procedure for requests and amendments that do require prior review by the CSSF for the purpose of authorisation or non-objection, as stipulated by applicable laws and regulations, remains applicable.

The new procedure aims to streamline administrative procedures and to bring benefits to market participants while maintaining robust investor protection standards.

In addition, the guide will include a technical part to facilitate the IT and operational implementation and will be published on 20 March 2025.

The eDesk process can be pre-populated via API (S3) for the purpose of implementing automation. Please find attached the two JSON schemas (for UCITS and, respectively, Part II UCIs, SICARs, and SIFs).