Upcoming Changes to the CSSF Electronic Visa Stamp Procedure

Investment Management 07 March 2025

On 6 March 2025, the Commission de Surveillance du Secteur Financier (CSSF) announced upcoming changes to the Electronic Visa Stamp (“e-Visa”) procedure for the prospectuses. This development is relevant for UCITS, UCI Part II funds, SIFs, and SICARs, streamlining the approval process and enhancing the security of electronically validated prospectuses

Key Aspects of the new e-Visa Stamp Procedure

The CSSF has announced the upcoming implementation of a new version of the electronic visa stamp, which will replace the current system. This updated version aims to enhance the security and reliability of approved prospectuses while improving their readability for investors and stakeholders.

The submission process for identifying any new or revised fund prospectus will transition to the eDesk e-Identification Prospectus application

As part of this transition, the CSSF has introduced a procedural change regarding certain prospectus amendments. A list of amendments that do not legally require prior authorisation or review by the CSSF has been established, allowing these modifications to be incorporated directly into the prospectus without prior approval. A dedicated guide will be made available through eDesk, detailing the new procedure, the scope of amendments that fall under this exemption, and the applicable conditions. In addition, the guide will include a technical part to facilitate the IT and operational implementation and will be published on 20 March 2025.

The existing administrative procedure for requests and amendments requiring prior review by the CSSF for authorisation or non-objection, in accordance with applicable laws and regulations, will continue to apply.

Impact on Funds and Fund Managers

The new e-Visa procedure will apply to the following types of funds submitting prospectuses for approval: