On 18 July 2019, the Law of 16 July 2019 ("Law") implementing the Securitisation Regulation1, the EuVECA Regulation2, the EuSEF Regulation3, the ELTIF Regulation4 and the MMF Regulation5, was published in Luxembourg's official journal and came into force on 22 July 2019.
The Law notably provides for the investigative and supervisory powers of the CSSF as well as its powers to impose administrative sanctions for the performance of its missions under the various regulations mentioned above. It also introduces some specific amendments to the Law of 23 July 2016 on Reserved Alternative Investment Funds ("RAIF(s)")6 and to the Law of 5 April 1993 on the Financial Sector.
1. "Securitisation Regulation" refers to Regulation (EU) 2017/2402 of 12 December 2017 on laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation.
2. "EuVECA Regulation" refers to Regulation 345/2013 of 17 April 2013 on European venture capital funds.
3. "EuSEF Regulation" refers to Regulation 346/2013 of 17 April 2013 on European social entrepreneurship funds.
4. "ELTIF Regulation" refers to Regulation (EU) 2015/760 of 29 April 2015 on European long-term investment funds.
5. "MMF Regulation" refers to Regulation (EU) 2017/1131 of 14 June 2017 on money market funds.
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