The department "Supervision of the Specialised Professionals of the Financial Sector" supervises the professionals of the financial sector (PFS) falling within the scope of application of the law of 5 April 1993 on the financial sector (except for investment firms and support PFS that are authorised only as client communication agents, administrative agents of the financial sector, primary IT systems operators of the financial sector, secondary IT systems and communication networks operators of the financial sector or that are cumulating exclusively these statuses).
The department is in charge of the prudential supervision of:
- registrar agents, professional custodians of financial instruments, persons carrying out foreign exchange cash operations, debt recovery, professionals carrying on lending operations, professionals carrying on securities lending operations, mutual savings funds administrators and managers of non-coordinated UCIs, domiciliation agents of companies and professionals performing services of setting-up and of management of companies;
- PFS authorised on the basis of general provisions;
- financial postal services provided by the Entreprise des Postes et Télécommunications.
The supervision of PFS is carried out based on periodical financial information to be transmitted by the professionals, on the on-site inspections and on the analysis of the comments and assessments provided by the réviseurs d'entreprises agréés (approved statutory auditors) and internal auditors of PFS.
Where PFS have subsidiaries or financial holdings in Luxembourg or abroad, the undertakings concerned are subject to prudential supervision by the CSSF on a consolidated basis, in addition to the prudential supervision on an individual basis.