The Grand-ducal Regulation of December 21st 2017 relating to the fees to be levied by the CSSF (the “New Grand-ducal Regulation”) entered into force on January 1st 2018 and repealed the Grand-ducal Regulation of October 28th 2013.
The New Grand-ducal Regulation (in the same way as its predecessor) sets out the fees to be levied by the CSSF which cover the operating costs for the financial sector supervision and the public oversight of the audit profession.
Under the New Grand-ducal Regulation some of the CSSF fees have been increased while many remain the same.
The fees for persons asking for admission to trading on a regulated market, offerors and issuers requesting approval for a prospectus under Part II and Chapter I of Part III of the Luxembourg Law on prospectuses for securities (as amended) remain unchanged. Likewise, the fees have not been increased for natural or legal persons, governed by public or private Law, making a “takeover bid” or “bid” falling within the scope of the Luxembourg Law on takeover bids, where the CSSF is the competent authority to supervise the bid; although the New Grand-ducal Regulation now provides for a limit on those fees stating that they shall never exceed EUR 1,000,000.
Perhaps the most relevant fee increase under the New Grand-ducal Regulation for those with an interest in the Luxembourg capital markets, are those relating to issuers for which Luxembourg is the home Member State in accordance with the Luxembourg Law on transparency requirements for issuers of securities or for persons who have applied for the admission of securities to trading on a regulated market without the issuer’s consent; the annual lump sum fees for all such persons have been increased.
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