CSSF Notification Regarding The Amended SFDR RTS

CS
Chevalier & Sciales
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Chevalier & Sciales is a Luxembourg law firm, founded in 2005, offering specialized expertise in a broad range of areas. These encompass investment funds, tax, litigation, arbitration and dispute resolution, banking, finance and capital markets, corporate transactions, and private wealth management.
The CSSF would like to bring to the attention of Financial Market Participants (FMPs) that the amended SFDR RTS has entered into force on 20 February 2023.
Luxembourg Finance and Banking
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The CSSF would like to bring to the attention of Financial Market Participants (FMPs) that the amended SFDR RTS has entered into force on 20 February 2023. These amendments require precontractual and periodic transparency obligations in relation to Taxonomy-aligned fossil gas and nuclear energy-related activities for financial products disclosing under Articles 8 and 9 of SFDR.

Regarding precontractual documents, FMPs must provide the disclosure information in the format of the templates outlined in the annexes of the amended SFDR RTS for:

  • Investment funds launched after the entry into force of the amended SFDR RTS; and
  • Existing investment funds that introduce changes in the prospectus/issuing document after the entry into force of the amended SFDR RTS.

With the purpose of simplifying the CSSF review process, in cases where changes to the prospectus/issuing document are limited to the usage of new templates outlined in the appendices of the updated SFDR RTS, FMPs must confirm in the application file submitted to the CSSF that (i) they have utilized the new templates and (ii) no further modifications have been made.

Regarding periodic reports, FMPs must present the periodic disclosure information in the format of the templates set out in the annexes of the amended SFDR RTS for annual reports of investment funds issued after the amended SFDR RTS comes into effect, regardless of the financial year-end of the investment funds.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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CSSF Notification Regarding The Amended SFDR RTS

Luxembourg Finance and Banking
Contributor
Chevalier & Sciales is a Luxembourg law firm, founded in 2005, offering specialized expertise in a broad range of areas. These encompass investment funds, tax, litigation, arbitration and dispute resolution, banking, finance and capital markets, corporate transactions, and private wealth management.
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