As from today, UK managers, firms and investment funds wishing to pursue their activities in Luxembourg, in the event a no-deal Brexit occurs on 31 October 2019, are invited to notify the Luxembourg regulator (CSSF) in line with its previous press releases 19/33 and 19/34 published in July.
Following the submission, the CSSF will notably check whether such managers, firms and investment funds have duly passported their services to Luxembourg in the past and that the information provided in the form is coherent and sufficiently detailed. If the assessment is successful the firm may benefit from a 12-month transitional period as described in the law of 8 April 2019 on Brexit.
UK firms, Managers and Investment funds have until 15 September 2019 to submit their notifications via the CSSF eDesk portal.
CMS Luxembourg Investment Funds and Regulatory teams are at your disposal to answer any questions you may have on this process.
