Ch. 3INTERMEDIATE ~20 mins

Authorization & Supervision

CSSF authorization process for fund entities

Who Needs CSSF Authorization Before Launch?

UCITS, 2010 Law Part II UCIs, and SIFs must obtain CSSF prior authorization before launching. RAIFs are not directly authorized or supervised by the CSSF — they are indirectly supervised through their mandatory authorized external AIFM.

A large amount of decision-making happens before the CSSF file is even submitted. The guide explicitly calls out that decisions on the following are typically resolved first:

▸Investment policy, fees, and fund information
▸Distribution strategy and target markets
▸Governance model and conducting officers
▸Operations, valuation/accounting approach, and controls
▸Service providers: ManCo/AIFM, administrator, depositary, auditor, distributors