Luxembourg regulator issues Brexit notification to UK firms

UK fund providers will have until 15 September 2019 to submit a ‘Brexit licence' to the Luxembourg regulator to continue trading in the jurisdiction. The Commission de Surveillance du Secteur Financier (CSSF) warned that unless firms submitted a notification to them by 15 September, they would be considered as ‘third-country entities'. This would result in a loss of passporting rights and sanctions, should they continue to pursue regulated activities in Luxembourg following a no-deal Brexit...