26 March 2020

Impact of COVID-19 on Luxembourg investment funds: regulatory measures

On 21 March 2020, the Luxembourg Government declared a state of emergency (état de crise) for a period of up to three months based on article 32 (4) of the Luxembourg Constitution, enabling it and the CSSF to enact some temporary measures to facilitate the continuance of business of Luxembourg investment funds, management companies and alternative investment fund manager.

The GSK Update covers the following:

  • Regulatory reporting
  • Immediate review of current organizational setups
  • Swing pricing mechanism
  • Meetings of shareholders and management bodies
  • Extended deadline for the submission of the survey related to the fight against money laundering and terrorist financing
  • Minimum IT security conditions
  • Reporting of net short position holders of position of 0.1% and above 
  • Operational aspects of the CSSF

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Press contact
Beate Dünschede
+352 271802-29
beate.duenschede@gsk-lux.com

Back

GSK Updates
  • 11.06.2020

    GSK Update: Updated: Tax measures during the state of emergency

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  • 20.04.2020

    GSK Update: COVID-19: Luxembourg’s Aid Scheme and Loan Guarantee Scheme

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  • 17.04.2020

    GSK Update: ESMA Guidelines on performance fees in UCITS and certain types of AIFs

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Contact person

Dr. Marcel Bartnik

Local Partner

+352 271802-80

marcel.bartnik@gsk-lux.com

Corinna Schumacher, LL.M.

Senior Associate

+352 271802-81

corinna.schumacher@gsk-lux.com

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