Periodic and non-periodic transmission of information by Management Companies – Chapter 16

Legal reporting encompasses all the periodic and ad hoc information to be transmitted to the CSSF for prudential supervisory purposes by management companies authorised under Chapter 16 of the Law of 17 December 2010 relating to undertakings for collective investment (“Management Companies – Chapter 16”), under its supervision, observing the file transport and data protection instructions.

The supervised entities are required to transmit periodic data to the CSSF relating to their activities on a quarterly or annual basis, depending on the circumstances.

The instructions of the CSSF only concern the prudential reporting (table SG), for which the CSSF is responsible.

File transport and data protection provides additional technical details regarding the transmission channels for reporting.

Please refer to the pages for “Investment funds and vehicles” for instructions relating to information that internally managed alternative investment funds must provide to the CSSF.

In accordance with Circulars CSSF 15/633 and 10/467, Management Companies – Chapter 16 must report financial information on a quarterly basis to the CSSF (final version “N”).

In addition, Management Companies – Chapter 16 must report financial information on an annual basis to the CSSF (final version “D”).

The annual financial information concerns the audited accounts as at financial year-end which does not necessarily match with the calendar year-end. If the financial year-end does not match with a quarter-end or the calendar year-end, the audited accounts must be reported on either 31 March, 30 June, 30 September or 31 December, whichever date is the closest. Management Companies – Chapter 16 shall communicate these accounts one month after the ordinary general meeting that approved the annual accounts was held.

The reporting obligation starts from the authorisation date of the Management Company – Chapter 16 even if it does not manage any funds.

The information to be submitted is detailed in the above-mentioned Circulars and should be transmitted via the transmission channels in Excel format.

In accordance with Circulars CSSF 15/633  and CSSF 10/467, Management Companies – Chapter 16 which have one or more branches must report financial information to the CSSF on the registered office (accounting version “L”), head office and branches (accounting version “N”) and each individual branch (accounting version “S”, one for each branch).

In the same way as for National prudential reporting above, Management Companies – Chapter 16 which have one or more branches must report financial information to the CSSF on a quarterly (final version “N) and annual (final version “D”) basis.

The reporting obligation starts from the authorisation date of the Management Company – Chapter 16 even if it does not manage any funds.

The information to be submitted is detailed in the above-mentioned Circulars and should be transmitted via the transmission channels in Excel format.

The legal publication of accounts of Luxembourg-registered Management Companies – Chapter 16 is governed by the Law of 10 August 1915 relating to the commercial companies, as amended and the Law of 19 December 2002 on the register of commerce and companies and the accounting and annual accounts of undertakings.

Article 69b of the Law of 19 December 2002 stipulates that “[…] the annual accounts […] are drawn up and published […].”

In addition, Circular CSSF 18/698 stipulates that “[…] closing documents to be provided yearly […] within one month after the ordinary general meeting that approved the annual accounts of the IFM and seven months following the closing date of the financial year of the IFM at the latest : audited annual report of the IFM.”

All legal and regulatory documents (including FAQs) can be found in the Regulatory framework section.

All forms can be found in the Publication and Data section.

In accordance with Circular CSSF 19/708 relating to the electronic transmission of documents to the CSSF, please refer to the list of documents to be transmitted electronically, the relating nomenclature as well as the technical specifications of its annex.

The purpose of Circular CSSF 21/789 is to define the practical rules regarding the preparation and annual submission of the below-mentioned documents by investment fund managers (the “IFMs”) and by their réviseurs d’entreprises agréés (approved statutory auditors, “REA”).

More specifically, the Circular introduces, on the one hand, a self-assessment questionnaire to be completed on an annual basis by the IFMs (the “self-assessment questionnaire”).

On the other hand, the Circular broadly details the role and mission of the REA in the context of the statutory audit of IFMs. It also establishes a specific regulatory framework applicable to the management letter and introduces a separate report (the “separate report”). Both documents must be prepared by IFMs’ REA on an annual basis. The separate report includes specific procedures that the CSSF requests the REA to perform in relation to the IFM’s self-assessment questionnaire.

It should be noted that IFMs falling under article 125-1 of Chapter 16 of the amended Law of 17 December 2010 relating to undertakings for collective investment only fall within the scope of points 4.1 and 4.2 of the Circular.

The above-mentioned reports are to be submitted annually to the CSSF by the IFM managers using the “Collective Investment Sector Reporting Tool” module of the CSSF eDesk platform.