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Administrative sanction of 17 January 2024

Administrative sanction imposed on the alternative investment fund manager Fonds AAA S.à r.l.

Administrative sanction of 17 January 2024

Administrative sanction imposed on the alternative investment fund manager Odysseus Investments GP S.à r.l.

Administrative sanctions of 17 January 2024

Administrative sanctions imposed on three alternative investment fund managers

Administrative sanction of 17 January 2024

Administrative sanction imposed on the alternative investment fund manager NP Capital GP S.à r.l.

Reminder regarding the communication means applicable for AIFM reporting from 1 July 2024

For the attention of alternative investment fund managers
The CSSF press release published on 22 September 2023 enabled the alternative investment fund managers to transmit their AIFM reporting directly to the CSSF either via an API interface (S3 technology) – from 2 November 2023 –…

Publication of the CSSF paper “Macroprudential Policy for Investment Funds: Considerations by the CSSF”

The CSSF publishes today its paper “Macroprudential Policy for Investment Funds: Considerations by the CSSF”. The objective of the paper is to contribute to the current discussions at international and European level on macroprudential policies/tools for investment funds, particularly on whether to repurpose/adapt existing tools…

Profit and loss account of credit institutions as at 31 March 2024 (only available in French)

Press release 24/14
Le résultat avant provisions et impôts du secteur bancaire luxembourgeois1 s’élève à 2.431,9 millions d’EUR pour le premier trimestre de l’année 2024, ce qui représente une augmentation de 19,9% par rapport à la même période de l’année précédente.   Postes en millions…

Public consultation on the review of the investment firms’ prudential framework

The CSSF informs all investment firms and relevant stakeholders regarding the EBA and ESMA discussion paper on the revision of the investment firms’ prudential framework, published on 3 June 2024 on the EBA website1 with the aim to gather relevant stakeholder feedback. Interested stakeholders are…

Critical vulnerability in Check Point VPN (CVE-2024-24919)

The CSSF has been made aware of a recent critical information disclosure vulnerability (CVE-2024-24919) in Check Point VPN, which is actively exploited. Successful exploitation of this vulnerability allows a remote attacker to obtain sensitive information, including key materials, user credentials, and configuration files from the…

Communiqué concerning non-profit organisations and the fight against terrorism financing (only in French)

Au Luxembourg, les évaluations verticales des risques (concernant les personnes morales et les constructions juridiques1 d’une part, et surtout concernant le financement du terrorisme2 (« FT ») d’autre part), publiées par le ministère de la Justice en 2022, appréhendent le niveau d’exposition au risque FT…

Global situation of undertakings for collective investment at the end of April 2024

Press release 24/13
As at 30 April 2024, the total net assets of undertakings for collective investment, comprising UCIs subject to the 2010 Law, specialised investment funds and SICARs, amounted to EUR 5,421.538 billion compared to EUR 5,485.248 billion as at 31 March 2024, i.e.…

Creation of a Pillar 3 publications corner for banks on the CSSF website

The CSSF is pleased to announce the launch of a new webpage dedicated to Pillar 3 disclosures for institutions. This initiative highlights the CSSF’s commitment to enhancing public disclosures by gathering all essential resources for drafting meaningful Pillar 3 reports in one convenient location. Specifically,…

Administrative sanction of 12 February 2024

Administrative sanction imposed on a réviseur d’entreprises agréé (approved statutory auditor)

PRIIPS Regulation

Regulation (EU) No 1286/2014, as amended (the “PRIIPS Regulation”) and its supplementing measures (including Commission Delegated Regulation (EU) 2017/653, as amended), require “manufacturers” of packaged retail and insurance-based investment products (PRIIPs) to review the information contained in the key information document (KID) at least every…

Communiqué on crypto-asset ATMs

The CSSF recommends that persons interested in conducting crypto-asset transactions on ATMs located in Luxembourg verify beforehand whether the providers operating these ATMs are registered as “Virtual Asset Service Provider” (“VASP”) with the CSSF. The list of VASPs is available in the application “Search Entities”.…

CSSF Regulation No 24-04 of 21 May 2024 (only in French)

on temporary adjustments to CSSF Regulation No 20-08 of 3 December 2020 laying down the conditions for granting mortgage loans for residential property located in Luxembourg

Assessment of professional standing and experience – update of the declarations of honour

The CSSF updated the declarations of honour for natural and legal persons following an adaptation of its administrative practice as regards the assessment of professional standing and experience. These adjustments do not concern the procedures or declarations of honour to be submitted as part of…

CSSF-ALFI Webinar on the new Circular CSSF 24/856 reforming Circular CSSF 02/77 on NAV calculation errors and investment breaches at the level of UCIs

The CSSF and ALFI will organise a webinar on the new Circular CSSF 24/856 on 6 June 2024 at 10.30 CEST. This new circular, concerning investor protection in the event of an error in NAV calculation, non-compliance with investment rules and other errors at the level of…

ESMA publishes its Final Report on Guidelines on funds’ names using ESG or sustainability-related terms

Following the publication on 14 December 2023 by the European Securities and Markets Authority (“ESMA”) of its Public Statement on Guidelines on funds’ names, the CSSF hereby informs market participants that ESMA published on 14 May 2024 its Final Report thereon. In this Final Report,…

New eDesk procedure regarding the EBA benchmarking exercise on Gender Pay Gap exercise

From 15 May 2024, the CSSF will start collecting “GPG” reports from credit institutions and non-SNI IFR investment firms (“non-SNI IFR IF”), on behalf of the European Banking Authority (EBA). The purpose of this reporting is to collect information on the gender pay gap of…