New rules redefine reporting for MMFs and non-MMF investment funds
Following the ECB Regulation 2024/1988, the CSSF Circular 24/866, issued in collaboration with the Banque Centrale du Luxembourg (“BCL”), is here to develop how Money Market Funds (“MMFs”) and non-MMF investment funds report their data. This is a leap towards a smarter, streamlined, and globally aligned reporting process.
What is new in circular CSSF 24/866?
The new circular introduces a modernised, efficient approach to statistical data collection. Whether you are managing a traditional fund or a MMF, these updates are set to make reporting smoother and more aligned with international standards.
Main modifications to BCL reporting obligations
- Monthly balance sheet reporting, mandatory for all funds, except non-UCITS with a valuation of their assets on a less frequent basis than monthly.
- Quarterly balance sheet reporting required for non-UCITS funds valuing their assets on a less frequent basis than monthly.
- New items added in the monthly and quarterly balance sheet reporting and monthly security-by-security reporting.
- New quarterly reporting to collect financial information on alternative investments funds non-authorised by the CSSF.
- New annual reporting to collect information about marketing countries for shares/units issued by investment funds (Report S4.4).
Main modifications to CSSF reporting obligations
- New items added to the monthly financial information reporting (Report U1.1).
- No more O4.1 ("renseignements financiers annuels") and O4.2 (“interventions sur les marchés à terme et les marchés d’options") reports for SIFs and K3.1 (half-yearly financial information) reports for SICARs.
Digital transformation
- Reporting has gone digital, with updated templates and submission processes designed to reduce errors and save time.
What's in it for you?
Let’s face it, regulations aren’t always fun. But Circular 24/866 is different. By simplifying processes and clarifying expectations, it is a win-win for compliance teams and investors alike. Here is how:
- smarter workflows: simplified templates and clear reporting timelines reduce administrative burdens.
- better data quality: enhanced data verification ensures accuracy, boosting confidence among regulators and investors.
- global credibility: alignment with ECB regulations reinforce Luxembourg’s position as a trusted financial hub.
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