Harneys is a full-service offshore law firm offering expert legal advice on the laws of jurisdictions including the British Virgin Islands, Cayman Islands, Luxembourg, and more. Established in 1960, the firm has grown to 11 global locations with over 180 lawyers, serving top law firms, financial institutions, investment funds, and high-net-worth individuals. Harneys provides comprehensive legal support across transactional, contentious, and private client matters, often in collaboration with Harneys Fiduciary, which delivers corporate and wealth management services. Known for its role in shaping offshore jurisprudence, the firm also advises on legislative developments and excels in handling complex cross-border transactions and disputes.
On 12 February 2025, the Commission de Surveillance du Secteur Financier (CSSF) introduced a streamlined and more efficient procedure for the creation of new share classes in investment funds...
On 12 February 2025, the Commission de Surveillance du Secteur
Financier (CSSF) introduced a streamlined
and more efficient procedure for the creation of new share classes
in investment funds, thereby eliminating the need for a prospectus
update.
The simplified procedure applies to various fund types,
including UCITS, UCI Part II, Specialised Investment Funds (SIFs),
and Investment Companies in Risk Capital (SICARs). Importantly, in
order to make use of the new procedure, the characteristics of the
new share classes must already be defined in the current version of
the fund's prospectus.
To proceed, submissions must follow certain principles specified
by the CSSF in their dedicated form, here, as well as include all relevant details
of the share classes in a standardised table provided in this
form.
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.
