DISCLAIMER: This post was last modified on 09 February 2023. Some information in this article may not be updated.

The CSSF, through a recent communication published on 01 February 2023 on its website portal, requires financial market participants (FSPs) and/or financial advisors (FAs), to complete a questionnaire through the launch of a new eDesk module called “SFDR-IFM disclosures”, starting 02 February.

According to the CSSF communication, the following entities are impacted, insofar as they manage SFDR Art. 8 or Art. 9 financial products:

• UCITS management companies
• Self-managed investment companies
• Authorized AIFMs, including internally managed alternative investment funds (note: the scope includes AIFs managed by a Luxembourg-based AIFM that were not concerned by the filing procedure, i.e., RAIFs)
• Managers of a qualifying venture capital fund
• Managers of a qualifying social entrepreneurship fund

The compilation of the data will focus on collecting information on the organisational arrangements of IFMs (Investment Fund Managers) related to Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR) and the Commission Delegated Regulation (EU) 2022/1288 of 06 April 2022 supplementing the SFDR Regulatory Technical Standards (RTS), applicable as of 01 January 2023. This will include the integration of sustainability risks, including matters like human resources and governance, the investment decision/advice process, remuneration and risk management policies and the management of conflicts of interest.

More information on the content of this questionnaire in the recent newsletter explaining the SFDR requirements and the implementation of the RTS SFDR as of January 1, 2023.

The questionnaire must be submitted no later than 02 March 2023 through the eDesk platform. To submit the questionnaire, the eDesk user must be linked to the IFM, which must keep the information updated. In case of changes, a specific update function (“Create update declaration”) is available under the new eDesk module to allow the amendment of information initially submitted.

The data collection will soon also include pre-contractual and periodic disclosure templates and major adverse impact statements (PAI). Additional information on the disclosure templates in our recent newsletter explaining the SFDR requirements and the implementation of the RTS SFDR as of 01 January 2023.

Further details on the timing and practical proceeding of the data collection will be communicated at a later stage.

Bolder will prepare periodic updates on SFDR obligations and new sustainability regulations. We invite you to stay tuned, and if you require any other guidance around this topic, we are here to help. Contact us for further assistance:

Ana Villalobos Prada (ESG Specialist)
Nicolas Charbonnet (Head of Governance, Bolder-Luxembourg)

Bolder Group does not provide financial, tax or legal advice and the information contained herein is meant for general information purposes only. We strongly recommend that before acting on any of the information contained herein, readers should consult with their professional advisers. The Bolder Group accepts no liability for any errors or omissions in the information, or the consequences resulting from any action taken by a reader based on the information provided herein.

Bolder Group refers to the global network of independent subsidiaries of Bolder Group Holding BV. Bolder Group Holding BV provides no client services. Such services are provided solely by the independent companies within the Bolder Group which are each legally distinct and separate entities and have no authority (actual, apparent, implied or otherwise) to obligate or bind Bolder Group Holding BV in any manner whatsoever. The operations of the Bolder Group are conducted independently and have no affiliation with third party financial, tax or legal advisory firms or corporations.