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Commission des normes comptables (CNC) publishes two Q&As (only in French)

La CSSF souhaite attirer l’attention sur la publication par la Commission des normes comptables de deux « Questions / Réponses » qui sont accessibles en ligne dès à présent sur son site Internet sous la section « Actualités » (https://www.cnc.lu/actualites) et sous la section « Publications », sous-section « Doctrine » (https://www.cnc.lu/publications/doctrine) dont…

Profit and loss account of credit institutions as at 31 December 2023 (only in French)

Press release 24/08
Le résultat avant provisions et impôts du secteur bancaire luxembourgeois1 s’élève à 8.942 millions d’EUR pour l’année 2023, ce qui représente une hausse de 45,1% par rapport à l’année précédente. Compte tenu des dotations aux provisions pour risques, qui marquent un retour…

Crypto4Winners

The CSSF invites you to read the communiqué of the Luxembourg Prosecutor’s Office regarding the so-called « Crypto4Winners » case.

Warning concerning persons misusing the name of the CSSF

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of fraudsters who impersonate the CSSF and its Director General, Claude Marx. The fraudsters are sending documents and/or payment requests in the name of the CSSF or its Director General. The CSSF points out…

Communiqué in relation to the "Bureau de gestion des avoirs"

With regard to the Bureau de gestion des avoirs, “BGA”, the CSSF would like to draw the attention to the obligations that derive from the Law of 22 June 2022 on the management and recovery of seized or confiscated assets (hereinafter, “the Law”) which came…

Update of the Reporting Handbook and new eDesk procedure for IPU threshold monitoring

The CSSF publishes an updated version of the Reporting Handbook for investment firms (v.1.3), which integrates precisions with respect to the requirement to submit final versions of some EU reporting templates and the introduction of the IPU (Intermediate Parent Undertaking) Threshold Monitoring module. As previously announced via…

First joint Report on the Luxembourg Derivatives Market

The Commission de Surveillance du Secteur Financier (CSSF) and Commissariat aux Assurances (CAA) present their first joint Report on the Luxembourg Derivatives Market. This report aims to provide an overview of the state of play under EMIR, while also providing insights into the CSSF’s and…

Payment of variable remuneration in non-SNI IFR investment firms: findings of non-compliance during the EBA's benchmarking exercise on remuneration practices for financial year 2022

In 2023, the CSSF collected data in the framework of the benchmarking exercise on remuneration practices led by the European Banking Authority (“EBA”) for the financial year 2022. The sample used for the exercise notably included class 2 investment firms (non-SNI IFR IF, hereinafter the…

New eDesk procedure - IPU Threshold monitoring

(for credit institutions)
From 1 March 2024, the CSSF will start collecting IPU (Intermediate Parent Undertaking) Threshold monitoring reports from credit institutions (subsidiaries and branches) belonging to third-country groups (TCGs), on behalf of the European Banking Authority (EBA). The purpose of this reporting is to…

Circular CSSF 24/854

Guidelines for the collective investment sector on the AML/CFT Summary Report RC (“SRRC”)

MiCA (Markets in crypto-assets)

In the context of the upcoming application of the MiCA regulation, the CSSF invites entities considering a notification or submission of an authorisation file with a view to the provision of CASP services or the issuance of ART or EMT to contact it now to…

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

Presse release 24/07
As at 31 January 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 5,326.332 billion compared to EUR 5,285.010 billion as at 31 December 2023, i.e.…

Deactivation of the IFM notifications on fund issues and large redemptions via eDesk and of the reporting Early Warning on Large Redemptions

On 25 February 2022, the CSSF implemented a specific monitoring of the circumstances and risks to which investment fund managers (“IFMs”) were exposed to as a result of the prevailing market conditions relating to the situation in Ukraine / Russia. Since then, these IFMs notified…

Annex of Circular CSSF 22/822 (Version of 26 February 2024)

1) high-risk jurisdictions on which enhanced due diligence and, where appropriate, counter-measures are imposed 2) jurisdictions under increased monitoring of the FATF Version of 26 February 2024

Communiqué regarding the CSSF’s position on eligible investors for UCIs investing in virtual assets

The CSSF has updated its FAQ Virtual Assets – Undertakings for collective investment in relation to the marketing of UCIs investing directly or indirectly in virtual assets. AIFs may now invest directly (and indirectly) in virtual assets under the condition that their units are only…

Examination of professional competence for “réviseurs d’entreprises” (statutory auditors) – 2023 Session

31 new réviseurs d’entreprises (statutory auditors) received their diploma evidencing their success in the 2023 session of the examination of professional competence. This diploma rewards a substantial training programme and is granted upon successful completion of a six-hour written examination and an individual oral test…

Administrative penalty of 17 November 2023

Administrative penalty imposed on the credit institution Mizuho Trust & Banking (Luxembourg) S.A.

Administrative penalty of 3 October 2023

Administrative penalty imposed on the investment firm Moventum S.C.A.

Reminder to the attention of the depositors of Fortuna Banque s.c. (in judicial liquidation)

Press release 24/06
This press release follows the precedent press release published on 12 October 2023 on the website of Fonds de garantie des dépôts Luxembourg (“FGDL”) (www.fgdl.lu) On 12 October 2023, the Luxembourg Tribunal d’arrondissement (District Court) ordered the liquidation of Fortuna Banque s.c.…