LINARI LAW
CSSF FAQ regarding the use of DLT in Tokenised Funds
On 2 October 2026, the CSSF published an FAQ on how Distributed Ledger Technology (DLT) may be used to issue, hold and transfer units or shares of Luxembourg investment funds. UCI administrators acting as registrar agent may keep the register of registered units on DLT, and for dematerialised units they…
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CSSF Circular 25/901: reinforced guidance for Luxembourg funds — and a benchmark for RAIFs
CSSF Circular 25/901, effective 19 December 2025, consolidates and updates prudential guidance for SIFs, SICARs and Part II UCIs in Luxembourg. It introduces clearer standards on risk-spreading, borrowing limits, ramp-up periods and look-through requirements, aligned with investor profiles. Although RAIFs are not directly in scope, the Circular is expected to…
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