CSSF introduces a fast track procedure for disclosures under the Taxonomy Regulation

The Taxonomy Regulation requires Luxembourg investment fund managers (“IFMs”) to update the fund documentation for the alternative investment funds (“AIFs”) and/or undertakings for collective investment in transferable securities (“UCITS”) they manage, in order to provide information related to environmentally sustainable investments or to funds that promote environmental characteristics. Luxembourg IFMs have until 1 January 2022 to comply with the transparency requirements. The CSSF has introduced a fast track procedure that can be used until 17 December 2021.