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Aki Corsoni-Husain
Aki Corsoni-Husain
  • Aki Corsoni-Husain

  • Partner
  • Cyprus
George Apostolou
George Apostolou
  • George Apostolou

  • Partner
  • Cyprus
Chiara Deceglie
Chiara Deceglie
  • Chiara Deceglie

  • Partner
  • Luxembourg
Massimiliano della Zonca
Massimiliano della Zonca
  • Massimiliano della Zonca

  • Senior Associate
  • Luxembourg
Philip Graham
Philip Graham
  • Philip Graham

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  • British Virgin Islands
Ayana Hull
Ayana Hull
  • Ayana Hull

  • Counsel
  • British Virgin Islands
Katerina Katsiami
Katerina Katsiami
  • Katerina Katsiami

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  • Cyprus
Petros Kiteos
Petros Kiteos
  • Petros Kiteos

  • Associate
  • Cyprus
Andrew Knight
Andrew Knight
  • Andrew Knight

  • Partner
  • Luxembourg
Joshua Mangeot
Joshua Mangeot
  • Joshua Mangeot

  • Counsel
  • British Virgin Islands
Mirza Manraj
Mirza Manraj
  • Mirza Manraj

  • Counsel
  • Hong Kong
Elina Mantrali
Mirza Manraj
  • Elina Mantrali

  • Associate
  • Cyprus
Vanessa Molloy
Vanessa Molloy
  • Vanessa Molloy

  • Partner
  • Luxembourg
Andrea Moundi Savvides
Andrea Moundi Savvides
  • Andrea Moundi Savvides

  • Consultant
  • Cyprus
Marina Stavrou
Marina Stavrou
  • Marina Stavrou

  • Associate
  • Cyprus
Matt Taber
Matt Taber
  • Matt Taber

  • Partner
  • Cayman Islands
Carolynn Vivian
Carolynn Vivian
  • Carolynn Vivian

  • Senior Associate
  • Cayman Islands

CSSF introduces ESMA’s common supervisory action of UCITS’ Managers

On 13 February, the Commission de Surveillance du Secteur Financier (CSSF) launched the first stage of the Common Supervisory Action (CSA) in accordance with the European Securities and Markets Authority’s (ESMA) announcement for a CSA with the National Competent Authorities on the supervision of UCITS’ managers’ liquidity risk management across the European Union.

CSSF is asking a large sample of Luxembourg-based UCITS managers to complete, by 13 March 2020 at the latest, a dedicated questionnaire for all UCITS managed, ie Luxembourg domiciled UCITS and foreign domiciled UCITS. All concerned Luxembourg-based UCITS managers were contacted by the CSSF in that context.

In order to benefit from a secured exchange platform and pre-submission data quality checks, the response questionnaire will have to be submitted by the UCITS managers through the CSSF’s eDesk portal. For that purpose, a dedicated section to complete this questionnaire will be accessible in the eDesk portal shortly.

Compliance with the UCITS liquidity risk management rules is the key to ensure financial stability, investor protection and the orderly functioning of financial markets.

CSSF’s announcement can be found here.

ESMA’s press release can be found here.

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