In the context of the dematerialisation of CSSF requests1, the CSSF requires all Luxembourg regulated investment funds, i.e. SIFs, Part II UCIs and SICARs to complete an online assessment which replaces the previous self-assessment confirmation on the exclusive professional investor status under the PRIIPs Regulation.

SIFs, Part II UCIs and SICARs which have already provided the CSSF with the previous assessment are not exempt from the obligation to complete the new online assessment. The deadline is fixed on 31 October 2019. Access to the online assessment is currently restricted to central administrations, however, it will be extended to management companies at the end of July 2019 and to other entities/persons at a later stage.

It is our understanding that those SIFs, Part II UCIs and SICARs who amended their offering documents before 1 January 2018 in order to include a reference to the fact that their units are solely advised on, offered or sold to professional investors and that, as a consequence, no PRIIPs KID was issued, should not complete the new online CSSF assessment. This understanding derives from the position taken by the CSSF in its FAQ on the application of the AIFM Law2 see, in particular Question 23 e), which indicates that Luxembourg regulated entities may choose either to complete a CSSF assessment or amend their Offering Documents as above indicated.


1. See also the article "Dematerialisation of requests to the CSSF" in this Newsletter.

2. "AIFM Law" refers to the Law of 12 July 2013 on the Alternative Investment Fund Managers.

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.