The CSSF has published today updated FAQs with information on the holding of ancillary liquid assets by UCITS foreseen under article 41 (2) b) of the Law of 17 December 2010. These updates aim at clarifying the circumstances and the extent to which UCITS are allowed to hold ancillary liquid assets. In this context, some aspects of UCITS and MMF diversification rules have also been clarified.
The new questions have been included in the following FAQs:
- FAQ concerning the Luxembourg Law of 17 December 2010 relating to undertakings for collective investment: Section 1 and Section 2.
- FAQ concerning MMFR: Section 2.
UCITS are expected to comply with the conditions described in these questions as soon as possible and by 31 December 2022 at the latest, considering the best interests of investors.
This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.