Focus on the CSSF circular 22/811 requirements for Luxembourg fund administrators

• Directors, conducting officers and senior employees of the compliance function of fund administrators
• Conducting officers and senior employees of the compliance function for management companies and AIFMs

The circular 22/811 issued by the CSSF clarifies the activity of fund administrators replacing chapter D of circular IML 91/75. It specifies the rules concerning the central administration of Luxembourg UCIs, taking into consideration the past legislative developments, changes in technology and market evolution with respect to the activity of funds administration.

With the deep collaboration of PwC's experts, the Academy is happy to offer a training focusing on the key requirements and challenges that fund administrators may face in complying with the circular.

• By the end of this course, participants will be able to understand the principles and requirements of the CSSF circular 22/811 on Luxembourg fund administrators.

• Scope of application of the circular
• Eligible entities to act as fund administrators
• Walk through the different obligations of the three fund administration's core functions:
  • Accounting and NAV calculation
  • Registrar function
  • Client communication function
• Organisational and IT requirements
• Delegation models
• Reporting obligations

This training is coordinated by Xavier Balthazar and Frédéric Vonner, Partners at PwC Luxembourg.

• Xavier Balthazar is a partner in the regulatory practice at PwC Luxembourg, specialising in financial sector and funds regulations. He has extensive experience in setting up and restructuring investment funds, management companies, and financial sector professionals both in Luxembourg and internationally, focusing on their organisation, processes, and procedures. Xavier serves as a regulatory compliance expert for depositary banks and fund administrations and leads a regulatory watch service for banks and asset managers. His expertise includes legal and regulatory aspects of investment funds, licensing of financial professionals, and UCITS and alternative investment funds. He has contributed to client projects involving licensing, compliance adaptation, fund administration, and regulatory training, and is a recognised speaker at industry conferences.
• Frédéric Vonner is a partner with over 22 years of experience managing projects and advising asset managers and securities service providers in the investment fund industry, primarily in Luxembourg. He specialises in operational excellence and regulatory compliance for UCITS and alternative funds, with a strong focus on sustainability and sustainable finance, covering strategy, compliance, and implementation. Frédéric is also an experienced trainer and course facilitator for both soft skills and technical topics. He actively contributes to ALFI and EFAMA working groups and has led numerous client projects including sustainable finance assessments, UCITS V and AIFMD implementations, depositary and GDPR assessments, fund administration reviews, and service provider rationalisation.