EUROPEAN UNION: CSSF – Launch of the ESMA Common Supervisory Action on Risk Management Function

Wednesday July 29 2026

On 27 July 2026, Commission de Surveillance du Secteur Financier (CSSF) launched the Common Supervisory Action (CSA) by asking a sample of Luxembourg-based Alternative Investment Fund Managers (IFMs) to complete a questionnaire, with a focus on (i) the governance and organisation of the risk management function, (ii) the identification, measurement and monitoring of risks and (iii) the reporting to senior management and governing bodies.

All concerned Luxembourg-based IFMs were contacted by the CSSF by email in that context. The IFMs that have not received an email from the CSSF on this subject matter are not concerned by this CSA exercise. In this regard, the CSSF reminds IFMs that they must keep the email addresses of eDesk users and their corresponding roles up to date, so that specific communications reach the relevant persons.

In order to benefit from a secure exchange platform and pre-submission data quality checks, the response questionnaire will have to be submitted by the Luxembourg-based IFMs through the CSSF’s eDesk Portal. The entities in scope of the CSA will be duly informed once this section becomes available for use.

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