Guidelines for the collective investment sector

Background

In accordance with Article 42(7) of CSSF Regulation No 12-02 of 14 December 2012 on the fight against money laundering and terrorist financing, as amended, the compliance officer - Responsable du contrôle du respect des obligations professionnelles (the "RC") of either Luxembourg investment fund managers including registered alternative investments fund managers, Luxembourg branches of foreign investment fund managers or Luxembourg investment funds supervised by the CSSF for AML/CFT purposes (the "Supervised Entities for AML/CFT"), has an obligation to prepare summary report dedicated to AML/CFT  (the "SRRC").

Such SRRC has to be submitted by the person responsible for compliance with the AML/CFT professional obligations at the level of the authorised management Responsable du Respect du respect des obligations professionnelles (the "RR") to the Luxembourg regulator, the CSSF, within five month after the closing of the annual accounts of the Supervised Entities for AML/CFT.

On 29 February 2024, the CSSF published a new Circular 24/854 regarding the guidelines for the submission of the SRRC due by all Supervised Entities for AML/CFT purposes to the CSSF (the "Circular").

What is the purpose of this Circular? 

The Circular has a dual purpose:  

• To introduce the new SRRC template made available by the CSSF, and  

• To clarify the means of reporting to the CSSF.

Key takeaways:

• A submission procedure is available for the new SRRC template (available at this link: User Guide - AML CFT Summary Report RC (cssf.lu));

• The SRRC must be exclusively submitted via the CSSF eDesk and is the responsibility of RR;

• The  Luxembourg investment funds which designated a Luxembourg management company submitting the SRRC do not have to submit the SRRC and consequently are out of scope of this Circular; and

• For the specific closing period ending on 31 December 2023, a two-month extension has been granted for the submission of the new SRRC.