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By Emanuele POMPEI, Partner, Assurance Private Equity Laurent CAPOLAGHI, Partner, Private Equity Leader, EY Luxembourg
On 28 March 2024, the CSSF issued Circular 24/856 (the “Circular”) to establish a new regulatory framework for investor protection concerning NAV calculation errors and non-compliance with investment rules at the UCI level. Effective from 1 January 2025, this Circular replaces the previous CSSF Circular 02/77. Its objectives are to modernize regulations, enhance transparency, and strengthen governance within the asset management industry. This change will necessitate significant operational adjustments for fund managers and UCI stakeholders. As private equity (PE) fund managers prepare for these changes, a crucial question arises: how...
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