CSSF’s update regarding the requirement to submit liquidation period extension requests for funds

On 31 August 2021, the Commission de Surveillance du Secteur Financier (CSSF) issued an update to advise that the liquidation period extension requests for funds in non-judicial liquidation will no longer be required, effective immediately.

The deadlines for submission of the half-yearly progress reports are as follows:

• Report covering the period from 1 January to 30 June – to submit the report no later than 30 September of the same calendar year
• Report covering the period from 1 July to 31 December – to submit the report no later than 31 March of the following year.

The CSSF will monitor the status of the liquidation via the semi-annual reports on the progress of the liquidation submitted by the liquidator who will be using the form available on the CSSF website.

The CSSF has reminded liquidators of the obligation to report any significant issues without delay, they should not wait until issuing the semi-annual report.

Liquidation period extension requests for sub-funds of funds that are on the official list and consequently not in non-judicial liquidation are still required when the nine-month deadline is reached.

CSSF’s press release can be found here.