CSSF Circular 14/587 – Luxembourg
CSSF Circular 14/587Rules applicable to credit institutions acting as depositary of UCITS under Part I of the Law of December 17th 2010 on undertakings for collective investment and to all UCITS, represented by their management company as the case may be. |
| In a few words In Luxembourg, the CSSF has just published Circular 14/587, which introduces new depositary standards in anticipation of UCITS V. |
|
On Tuesday July 15th 2014 the Commission de Surveillance du Secteur Financier (the “CSSF”) issued Circular 14/587 (the “Circular”) which is applicable to UCITS’ depositary banks and to the UCITS themselves regarding their relationship with their depositaries. The Circular focuses on the following points:
However, the depositary’s liability regime shall not be affected by the Circular. The liability regime remains subject to the Law of December 17th 2010 on undertakings for collective investment. |
Contact | ||