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Head office of Luxembourg financial sector regulator (CSSF). Investment fund managers moving business to Luxembourg in a Brexit context need regulatory approval. Photo: Maison Moderne  

To avoid any doubt, the communiqué issued on Thursday also stated that, “existing entities already authorised by the CSSF, but wishing to receive additional licenses or substantially changing operational models to cope with Brexit-related aspects are also addressed by this press release.”

The regulator reminded such entities that gaining the necessary approval takes time and depends on many and varied factors.  As such, it urged investment fund managers to submit their applications as soon as possible.