Panorama 2020

On the occasion of the publication of its annual report, the CSSF launched the website www.panorama-cssf.lu which summarises the 2020 highlights for the Luxembourg supervisory authority.
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Agreed-upon procedures’ conclusions on key IFRS 9 and credit risk related requirements

During 2021, the CSSF requested agreed-upon procedures to be performed by external auditors on key IFRS 9 and other credit risk related requirements.1 The agreed-upon procedures highlighted room for improvement on the following requirements: CIs must have an adequate governance at local level around the…

Warning concerning the websites www.unioncorp.co.uk, www.uil-london.co.uk and https://account.unioncorp.co.uk/auth/register

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the websites www.unioncorp.co.uk, www.uil-london.co.uk and https://account.unioncorp.co.uk/auth/register where an entity offers investment services under the name “Union Investment Luxembourg” and pretends to be established at 3, Heienhaff, L-1736 Senningerberg. The CSSF informs the public…

FAQ: COVID-19

FAQ of 15 October 2021: Question 13 regarding banks’ distribution policies/remuneration is no longer applicable and is repealed

Communiqué regarding the publication of Circular CSSF 21/785 on the replacement of the prior authorisation obligation by a prior notification obligation in the case of material IT outsourcing (only in French)

1. Conformément au point 8 de la circulaire CSSF 21/785, le présent communiqué définit les mesures transitoires concernant les demandes d’autorisation de sous-traitance informatique matérielle soumises à la CSSF avant la date d’entrée en vigueur de la circulaire CSSF 21/785. 2. Pour les entités surveillées ayant…

Circular CSSF 21/785 (only in French)

Replacement of the prior authorisation obligation by a prior notification obligation in the case of material IT outsourcing

Warning concerning the website www.ib-finance.lu and unknown persons presenting themselves using the name « IB Finance »

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website www.ib-finance.lu and of unknown persons who offer financing services presenting themselves using the name « IB Finance ». In doing so, they misuse the address of the company IB Finance governed…

Warning regarding the activities of an entity named "INFINITRADE" or "Company Universal s.r.o. (INFINITRADE)"

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of an entity named “INFINITRADE” or “Company Universal s.r.o. (INFINITRADE)” presenting itself as a platform offering investment services. In doing so, it issues documents misusing the name, logo and address of the Luxembourg public-law…

Circular CSSF 21/784

Periodic prudential reporting of investment firms

CSSF Regulation No 21-03 of 30 September 2021

on the setting of the countercyclical buffer rate for the fourth quarter of 2021

The CSSF publishes Circular CSSF 21/784 on the periodic prudential reporting of investment firms

Following the Communiqué of 2 September 2021 regarding the entry into force of the new regulatory provisions applicable to investment firms, the CSSF publishes Circular CSSF 21/784 on new reporting requirements applicable to investment firms. This circular introduces the “Reporting Handbook for Investment Firms“, the…

Global situation of undertakings for collective investment at the end of August 2021

Press release 21/24
As at 31 August 2021, the total net assets of undertakings for collective investment, comprising UCIs subject to the 2010 Law, specialised investment funds and SICARs, amounted to EUR 5,647.437 billion compared to EUR 5,541.371 billion as at 31 July 2021, i.e.…

Circular CSSF 21/783

Application of the Guidelines of the European Securities and Market Authority on the MiFID II/MiFIR obligations on market data

Warning concerning the website www.db-omega.com

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website www.db-omega.com where an entity offers investment services pretending to be established at 14, rue Edward Steichen in Luxembourg and to be regulated by the Commission de Surveillance du Secteur Financier. The…

Circular CSSF-CPDI 21/27

Survey on the amount of covered deposits held on 30 September 2021

Profit and loss account of credit institutions as at 30 June 2021

Press release 21/23
Profit before provisions and taxes of the Luxembourg banking sector1 amounts to EUR 2,772 million for the first half of 2021, i.e. an increase of 12.1% compared to the same period of the previous year. This growth is due to non-recurring effects.…

Circular CSSF 21/782

Adoption of the revised guidelines, by EBA, on money laundering and terrorist financing risk factors

Warning concerning the website www.demergon-fund.com

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website www.demergon-fund.com through which an entity offers investment services under the name Demergon Fund. The CSSF would like to point out that the Luxembourg company Demergon Funds, which is duly authorised in…

Circular CSSF-CODERES 21/13

Single Resolution Fund – Information request by the Single Resolution Board for the calculation of the 2022 ex-ante contribution according to Articles 4 and 14 of the Commission Delegated Regulation (EU) 2015/63

Circular CSSF 21/781

Mandatory use of the IMAS Portal for banking qualifying holding and passporting notifications

Investment Fund Managers are invited to declare via a new dedicated eDesk application the performance fee models applicable to Luxembourg UCITS or AIF they manage

In November 2020, the European Securities and Markets Authority (“ESMA”) published its guidelines on performance fees applicable to UCITS and certain types of AIFs (the “Guidelines”). The Guidelines aim to promote greater convergence and standardisation in the field of performance fees. In particular, they aim…

Warning concerning the website www.lfeeuam.com

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website www.lfeeuam.com where an entity offers investment services under the name LFE European Asset Management S.à r.l., while pretending to be established at 26A, boulevard Royal, L-2449 Luxembourg and to be registered…

Reappointment of Jean-Pierre Faber as CSSF Director

HRH Grand Duke Henri decided, on the proposal of the Government in Council, to renew the mandate of Jean-Pierre Faber as Director of the CSSF for a period of 5 years. Jean-Pierre Faber began his career at the consulting firm Arthur Andersen, before joining Ernst…