Luxembourg Commission de Surveillance du Secteur Financier introduces an e-Identification prospectus process from April 2025 and streamlines amendments that do not require prior review

The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) announced that an “e-Identification” system will replace the current VISA procedure for prospectuses of Undertakings for Collective Investment in Transferable Securities (UCITS), Part II undertakings for collective investment (Part II UCIs), investment companies in risk capital (SICARs) and specialised investment funds (SIFs) from April 2025. Identification requests for new or revised prospectuses will move to the eDesk e-Identification Prospectus application, and the e-Identification will consist of two elements displayed on the first page of the prospectus. The rollout is accompanied by a change to the administrative procedure, including a list of prospectus amendments that do not legally require authorisation and prior CSSF review, which can be incorporated without prior approval. A guide available via eDesk will describe the new procedure, the list of amendments and applicable conditions, and include a FAQ, while the CSSF may request documents later for an ex-post analysis under its risk-based approach. The existing procedure remains in place for requests and amendments that do require prior CSSF review for authorisation or non-objection under applicable laws and regulations. The guide, including a technical section to support IT and operational implementation, is due to be published on 20 March 2025. The eDesk process can also be pre-populated via an API (S3), supported by published JSON schemas for UCITS and for Part II UCIs, SICARs and SIFs.