CSSF publishes feedback report on NAV error notification circular 24/856
The CSSF has released a feedback report covering the first year of operation of Circular 24/856, which governs investor protection following NAV calculation errors, investment rule breaches and other errors at UCI level. The report shares statistics and observations from 2025 notifications and highlights points firms should consider in future submissions.
- Circular CSSF 24/856 entered into application on 1 January 2025, repealing Circular CSSF 02/77 on the same date.
- The CSSF introduced a secure transmission channel for notification forms via the eDesk platform, with an alternative automated submission route via API using the S3 protocol.
- A user guide titled 'UCI notification in accordance with Circular CSSF 24/856 – Practical and technical guidance' has been published alongside the Circular.
- The Feedback Report presents statistics on notifications submitted during 2025 and observations on the different errors and instances of non-compliance covered.
- All entities within scope of Circular CSSF 24/856 are expected to give due consideration to the report's observations when preparing and submitting notifications.