Increase Of CSSF Fees

On 22 December 2017, the Grand Ducal Regulation of 21 December 2017 relating to the fees to be levied by the CSSF ("Regulation") which repeals the Grand Ducal Regulation of 28 October 2013 was published in the Mémorial A (Luxembourg's Official Journal).

The Regulation, which entered into force on 1 January 2018, increases the fees payable to the CSSF by all legal entities and natural persons subject to the CSSF's supervision. In particular, this increase affects the fees applicable to the submission of an application for approval by a UCI, a SIF, SICAR, or an IFM1 . ("Examination Charges") as well as the annual maintenance charges ("Annual Charges").

The conversion charges which apply in case a stand-alone fund is converted into an umbrella fund or an FCP into a SICAV for instance as well as the additional lump sums for the establishment of branches of IFMs have been increased in a similar manner.

In addition, a single lump sum of EUR 500 for each authorisation request of a new sub-fund within an existing umbrella as well as a lump sum of EUR 10,000 for each on-site inspection have been introduced.

...