On 15 July 2019, the CSSF published two press releases directed at (i) UK firms and (ii) UCITS management companies and AIFMs, clarifying the actions to be taken by UK entities in anticipation of a hard Brexit which were based on the assumption that a hard Brexit would occur on 31 October 2019: mandatory notification and subsequent application.
Following the decision of the European Council of 30 October 2019 extending the period under Article 50(3) relating to the United Kingdom’s withdrawal from the European Union, the CSSF announced on 7 November 2019 that the reference date for a potential hard Brexit in all of its previously published communications should now be read as 31 January 2020.