Don’t forget to submit a notification through the eDesk portal by 15 September 2019 to benefit from the transitional regime.

 CSSF Press Release 19/41 dated 2 August 2019 follows up on Commission de Surveillance du Secteur Financier (CSSF) press release 19/34 and 19/18 on the publication of the Laws of 8 April 2019 with regard to Brexit.

Undertakings for collective investment and their managers, firms and investment funds that wish to benefit from the 12-month transitional regime of the Brexit laws are required to notify the CSSF no later than 15 September 2019.

Dedicated “Brexit Notification” forms are now available for all firms and investment funds through the eDesk portal accessible at https://www.cssf.lu/edesk.

Any date indicated in the Brexit Notification forms is based on the assumption of a no-deal Brexit occurring on 31 October 2019.

Entities that have not submitted a notification through the eDesk portal by 15 September 2019 will not be entitled to benefit from the transitional regime and must cease all business as of the date of a no-deal Brexit.

Please also refer to previous DSM legal news:

DSM legal news of 3 July 2019

DSM legal news of 22 July 2019

For any other information or queries, please contact Me Renaud Le Squeren or Virginie Leroy (Solicitor)