CSSF On-Site Inspections
Grand-Ducal Regulation of December 21 2017 relating to fees to be levied by the CSSF
Grand-Ducal Regulation of December 21 2017 (the Regulation) entered into force on January 1 2018 and repealed the Grand-Ducal Regulation of October 28 2013. In addition to the expected fee increase for credit institutions, investment funds and regulated markets, this Regulation introduces a couple of significant changes in the fees to be charged by the CSSF to authorized alternative investment fund managers (AIFM), UCITS management companies (ManCo) and professionals of the financial sector (PFS).
What you need to know...
The Regulation increases the single lump sum for the examination of a license application request from a new AIFM, new ManCo or new PFS from 10.000 euros to 15.000 euros, as well as other annual sums to be paid by them to the CSSF.
In addition, the Regulation provides that AIFM, ManCo and PFS shall now pay a lump sum of 10,000 euros for each on-site inspection conducted by the CSSF, whereas such on-site inspections were not subject to a charge before.
Finally, the Regulation introduces an annual sum between 1,200 euros and 4,000 euros to be...
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