On 2 December 2021, the CSSF announced in a Press Release, that it had implemented a fast track procedure for UCITS, to submit their amendments in the funds' legal documentation in the context of Regulation (EU) 2020/852 on the establishment of a framework to facilitate sustainable investments (the "Taxonomy Regulation") and Regulation 2019/2088 on sustainability-related disclosures in the financial services sector ("SFDR").
The fast track procedure for UCITS allows their management companies to submit to the CSSF an updated prospectus/issuing document version of the UCITS for visa stamp by 17 December 2021, in order to obtain the visa stamp before 31 December 2021. They need to also file a signed confirmation letter together with the updated prospectus/issuing document. In order to benefit from this fast track procedure, the updates must be limited to reflect the changes required under Articles 5, 6 and 7 of the Taxonomy Regulation.
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