CSSF: Confirmation letter for the purpose of CSSF visa stamping of UCITS prospectus updated in relation to the pre-contractual disclosure requirements specified in the Commission Delegated Regulation 2022/1288 of 6 April 2022 supplementing Regulation (EU) 2019/2088 (“CDR”) (Updated)

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Last Updated on June 3, 2025 by Arnaud Collignon

Understanding the CSSF Confirmation Letter for SFDR and UCITS

The Commission de Surveillance du Secteur Financier (CSSF) has issued a confirmation letter regarding the integration of the Sustainable Finance Disclosure Regulation (SFDR) into the framework of Undertakings for Collective Investment in Transferable Securities (UCITS). This letter is crucial for asset managers and investors alike, as it outlines the expectations and requirements for compliance with SFDR.

Key Highlights of the Confirmation Letter

  • Compliance Requirements: The letter emphasizes the necessity for UCITS to align with the SFDR’s disclosure obligations.
  • Transparency: Asset managers must ensure that their investment products are transparent regarding sustainability risks and impacts.
  • Implementation Timeline: The CSSF provides a timeline for the implementation of these requirements, urging timely compliance.
  • Guidance for Investors: The letter serves as a guide for investors to understand how sustainability factors are integrated into investment decisions.

Why This Matters

The integration of SFDR into UCITS is a significant step towards enhancing sustainability in the financial sector. It not only promotes transparency but also encourages responsible investment practices. By adhering to these guidelines, asset managers can better serve their clients and contribute to a more sustainable future.

Next Steps for Asset Managers

Asset managers should take the following steps to ensure compliance:

  • Review the CSSF confirmation letter thoroughly.
  • Assess current investment products for alignment with SFDR requirements.
  • Implement necessary changes to disclosure practices.
  • Engage with stakeholders to communicate updates and changes.

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