Ukraine crisis

Information on international financial sanctions and other communications published by the CSSF in this context
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CCyB dashboard 2022Q3

CSSF Regulation No 22-03 of 30 June 2022 supplement

Annual Report on Sanctioning Activities in the SSM in 2021

This report has been prepared by the SSM Network of Enforcement and Sanctions Experts to present comprehensive statistics on sanctioning activities in relation to breaches of prudential requirements carried out in 2021 by the ECB and the national competent authorities (NCAs) of Member States participating…

Warning concerning the website https://altinvestment-sicav.com

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website https://altinvestment-sicav.com where unknown persons offer investment services under the name “Alternative Investment” and pretend to be established at 1C, rue Gabriel Lippmann, L-5365 Luxembourg. The CSSF informs the public that the…

Warning concerning the website www.intreal.org

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website www.intreal.org where an entity offers investment services, notably cryptocurrency, under the name IntReal and pretends to be established at Centre Etoile 11-13, Boulevard de la Foire, 1528 Luxembourg. The CSSF informs…

Warning concerning the website www.ec21-france.com

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website www.ec21-france.com, where an entity named EC21 France offers investment services by presenting itself as an “independent management and wealth strategy consulting firm” established at 35a, avenue John F. Kennedy, L-1855 Luxembourg.…

Grand-ducal Regulation of 27 July 2022 (only in French)

amending Grand-ducal Regulation of 30 May 2018 on the protection of financial instruments and funds belonging to clients, product governance obligations and the rules applicable to the provision or reception of fees, commissions or any monetary or non-monetary benefits for the purposes of transposing Commission…

Global situation of undertakings for collective investment at the end of June 2022

Press release 22/19
As at 30 June 2022, the total net assets of undertakings for collective investment, comprising UCIs subject to the 2010 Law, specialized investment funds and SICARs, amounted to EUR 5,169.618 billion compared to EUR 5,367.849 billion as at 31 May 2022, i.e.…

MiFID rules related to sustainability: application of the requirements relating to client sustainability preferences and publication of ESMA’s consultation paper on MiFID II product governance guidelines

Application of Commission Delegated Regulation 2021/1253 of 21 April 2021 amending Delegated Regulation 2017/565 as regards the integration of sustainability factors, risks and preferences into certain organisational requirements and operating conditions for investment firms (Commission Delegated Regulation 2021/1253) The CSSF would like to remind supervised…

Setting-up of a generic mailbox presse@cssf.lu

Press release 22/17 The Commission de Surveillance du Secteur Financier (CSSF) sets up a generic e-mail address presse@cssf.lu in order to facilitate exchanges with the media.
In accordance with the Luxembourg Government’s circular letter of 27 June 2022 on the rights and duties of State officials…

Circular CSSF 22/819 (only in French)

Requests for the obtaining of account information under Article 14 of Regulation (EU) No 655/2014 of the European Parliament and of the Council of 15 May 2014 establishing a European Account Preservation Order procedure to facilitate cross-border debt recovery in civil and commercial matters

Warning concerning the activities of an entity named Uni-Crédit Postal Bank (https://unicpostalb.com/)

The CSSF warns the public of the website https://unicpostalb.com/ where an entity offers online banking services, in particular, loans, under the name “Uni-Crédit Postal Bank”. The CSSF informs the public that an entity named “Uni-Crédit Postal Bank” is unknown to it, that it is not…

Warning concerning fraudulent activities by persons misusing the name and the address of the Luxembourg company NOIA CAPITAL S.À R.L.

The CSSF warns the public of unknown persons who contact without solicitation potential investors to offer them investment services and presenting themselves under the name “NOIA CAPITAL”, pretending to be a “member of the Commission de Surveillance du Secteur Financier”. In doing so, they send…

Warning regarding the activities of an entity named Traderactive

The CSSF warns the public of the activities of an entity named “Traderactive” (website: https://traderactive.com/) which offers investment services pretending to be supervised, under the name “International Markets Management”, by a so-called public institution called CFSS, which would supervise professionals and products of the Luxembourg…

Warning concerning the website https://cfss.lu/

The CSSF warns the public of the website https://cfss.lu/ where a so-called “supervisory authority” presents itself under the name “CFSS” and as being a “public body which ensures the supervision of professionals and products of the Luxembourg financial sector”. The CSSF would like to specify…

Communication to the investment fund industry on regulatory requirements in relation to Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR) and upcoming entry into force of SFDR Level 2 provisions (SFDR RTS)

Commission Delegated Regulation (EU) of 2022/1288 of 6 April 2022 supplementing Regulation (EU) 2019/2088 of 27 November 2019 on sustainability-related disclosures in the financial services sector (SFDR RTS) requires financial market participants to present by 1 January 2023, for financial products subject to Articles 8…

Warning regarding the activities of an entity named FinanvasPay/FiPay (https://online-finanvas.com, www.finanvas.com)

(published on 25 July 2022, updated on 1 August 2022)
The CSSF warns the public against the websites https://online-finanvas.com and www.finanvas.com where an entity offers online banking services using the name “FinanvasPay”, “FiPay” or “Finanvas”, by pretending to be authorised as electronic money institution and…

Administrative sanction of 11 March 2022

Administrative sanction imposed on the investment fund manager Generali Investments Luxembourg S.A.

Administrative sanction of 11 March 2022

Administrative sanction imposed on an investment fund manager

Law of 19 December 2020

on the implementation of restrictive measures in financial matters

Warning concerning fraudulent activities by persons misusing the name and address of the Luxembourg law company AB Investment S.A.

(published on 22 July 2022, updated on 9 August 2022)
The CSSF warns the public of unknown persons misusing the name and address of the financial holding company incorporated under Luxembourg law AB Investment S.A. by contacting without solicitation consumers in order to offer them…

Warning concerning fraudulent activities by persons misusing the name of Banque de Luxembourg

(published on 22 July 2022, updated on 28 and 29 July 2022)
The CSSF warns the public of unknown persons misusing the name, logo and address of Banque de Luxembourg by contacting without solicitation consumers in order to offer them investment products. In doing so,…

Notice to private consumers in the context of investment funds providing exposure to virtual assets

The Commission de Surveillance du Secteur Financier (CSSF) notes that virtual assets, including so-called virtual currencies, continue to gain traction in the financial sector. This market trend can also be observed in the context of collective investment undertakings (investment funds) being established to provide direct…

CSSF Regulation No 22-04 of 20 July 2022

amending CSSF Regulation No 20-02 of 29 June 2020 on the equivalence of certain third countries with respect to supervision and authorisation rules for the purpose of providing investment services or performing investment activities and ancillary services by third-country firms, as amended by CSSF Regulation…

Reports of investment funds foreseen by Circular CSSF 21/790 – additional clarifications for their completion/submission

On 31 March 2022, the CSSF issued a communiqué to inform that, as from that date, the reports introduced by Circular CSSF 21/790, namely the self-assessment questionnaire (“SAQ”), the separate report (“SR”) and the management letter (“ML”) (together the “reports”), which are applicable to UCITS, UCIs subject to Part II of the Law of 17…

Law of 20 July 2022 (only in French)

setting up a monitoring committee for restrictive measures in financial matters and amending: 1° Article 506-1 of the Penal Code; 2° the Law of 19 December 2020 on the implementation of restrictive measures in financial matters.

Warning concerning fraudulent activities by persons misusing the name of the European Investment Bank (EIB)

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of unknown persons who contact without solicitation possible investors and present themselves as employees of the “Banque européenne d’investissement”. In doing so, they send emails with the address format Firstname.surname@bei-epargne.com, misuse the name and…

The European Banking Authority published the Guidelines on the role and responsibilities of the AML/CFT compliance officer (the “Guidelines”)

The Guidelines The CSSF would like to draw attention to the publication by the European Banking Authority (EBA) on 14 June 20221 of the Guidelines specifying the role, tasks and responsibilities of the AML/CFT compliance officer, the management body and senior manager in charge of…

Administrative sanctions of 19 April 2022

Administrative sanctions imposed on two réviseurs d’entreprises agréés