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    CSSF on Reporting Format Applicable to Investment Firms Under IFR

    February 22, 2021

    CSSF informed that an XBRL solution will be adopted as the collection method for the new prudential reporting applicable to investment firms, as of September 30, 2021; this adoption will be within the framework of the transposition, into the national law, of the Investment Firms Directive or IFD (2019/2034) and the entry into application of the Investment Firms Regulation or IFR (2019/2033). IFD and IFR entered into force on December 25, 2019. In a separate statement, CSSF highlighted that undertakings for collective investment in transferable securities (UCITS) management companies and alternative investment fund managers will have to comply with EU Regulation 2019/2088 on sustainability-related disclosures in the financial sector (also known as SFDR) by March 10, 2021.

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    Keywords: Europe, Luxembourg, Banking, Securities, Investment Firms, IFD, IFR, Reporting, SFDR, Sustainable Finance, Disclosures, ESG, CSSF

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