JD Supra

CSSF Circular 25/901: Consolidation, Recalibration, and Clarification of Luxembourg’s Framework for SIFs, SICARs, and Part II UCIs

On 19 December 2025, the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg published Circular 25/901 (the Circular), setting out updated supervisory guidance applicable to ...
JD Supra

CSSF Circular 25/901: A simplified and modernized framework for Part II UCIs, SIFs and SICARs with proportionate protections per investor-type

The CSSF’s Circular 25/901 (Circular) consolidates and modernizes the supervisory framework for Luxembourg SIFs, SICARs and Part II UCIs. It replaces several longstanding circulars and codifies CSSF ...