Developments in the Luxembourg Financial Sector

December 15, 2016

The Luxembourg financial regulator has published a circular on UCITS depositaries, clarifying the organisational arrangements and other rules provided by Luxembourg’s UCI Law and the EU UCITS Regulation. The circular addresses, among other topics, delegation and outsourcing by a depositary. As a separate matter, the EU Parliament voted on 1 December to provide a one-year delay – widely welcomed by the financial industry – to the entry into force of the so-called “PRIIPs” Regulation.

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