Circular CSSF 23/844
CSSF
1. Background & Scope
Circular CSSF 23/844, dated 2 November 2023, repeals the previous CSSF 14/581 and clarifies reporting requirements for Luxembourg-based Alternative Investment Fund Managers (AIFMs).
It aligns with Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD) and the Luxembourg Law of 12 July 2013 transposing it.
2. Who is affected
The circular applies to both registered and authorised AIFMs in Luxembourg, including those responsible for operating or supervising them.
Reporting obligations are rooted in specific AIFMD articles:
Registered AIFMs: Article 3(3)(d) of AIFMD (and Article 3(3)(d) of the Luxembourg law).
Authorised AIFMs: Articles 24(1), (2) and (4) of AIFMD (and Articles 22(1), (2) and (4) of the Luxembourg law).
3. Reporting Templates and Technical Format
AIFMs are required to submit periodic reports using the Annex IV reporting template specified in Delegated Regulation (EU) No 231/2013.
The circular refers to ESMA’s guidelines and technical documentation, including XSD/ XML schema and reporting templates, which set out how to structure and file AIFM reports.
4. Submission Process to the CSSF
Submissions must follow the technical guidance published by the CSSF, including formatting, filing methods, and transmission standards.
The CSSF has provided detailed technical guidance on its website to help AIFMs comply with reporting standards.
5. Practical Considerations and Timing
The circular doesn’t restate all operational details (like reporting frequency, reporting periods, or first reporting dates). Instead, it points firms to the ESMA final report and the CSSF AIFM FAQ for those details.
It aims to streamline and clarify the reporting process under AIFMD, helping AIFMs understand how and when to file their periodic data with the CSSF.