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

The circular 22/811 recently issued by the CSSF clarifies the activity of fund administrators: replacing the chapter D of the 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 focussing on the key requirements and challenges that fund administrators may face for complying with the new 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.

1/ Scope of application of the circular

2/ Eligible entities to act as fund administrators

3/ Walk through the different obligations of the three fund administration's core functions:

• Accounting and NAV calculation
• Registrar function
• Client communication function

4/ Organisational and IT requirements

5/ Delegation models

6/ Reporting obligations

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

Xavier, Partner in charge of Regulatory Advisory, possesses substantial expertise in financial sector and funds’ regulations. He participated to many setups and restructurings of investments funds, management companies and professionals of the financial sector in Luxembourg and abroad. This includes defining their organisational structure, processes and procedures. He also serves as a regulatory compliance expert for depositary banks and fund administrations.

From daily operations to regulatory compliance, Frederic Vonner has been helping local and global asset managers, fund service providers and banks to successfully run their businesses for nearly 20 years. Areas of focus: UCITS, AIFMD and GDPR regulations, private equity & real estate, organisation setup and review, project management.