On 21 March 2020, the Luxembourg Government declared a state of emergency (état de crise) for a period of up to three months based on article 32 (4) of the Luxembourg Constitution, enabling it and the CSSF to enact some temporary measures to facilitate the continuance of business of Luxembourg investment funds, management companies and alternative investment fund manager.
The GSK Update covers the following:
- Regulatory reporting
- Immediate review of current organizational setups
- Swing pricing mechanism
- Meetings of shareholders and management bodies
- Extended deadline for the submission of the survey related to the fight against money laundering and terrorist financing
- Minimum IT security conditions
- Reporting of net short position holders of position of 0.1% and above
- Operational aspects of the CSSF
