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CSSF’s communications and initiatives in the COVID-19 context
Faced with the coronavirus crisis, the CSSF continues its missions of prudential supervision and accompanies professionals of the financial sector. All CSSF communications intended for the supervised entities in this context are accessible here.
Since the beginning of the COVID-19 crisis, the CSSF has made…
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Since the beginning of the COVID-19 crisis, the CSSF has made…
30 July 2021
European Commission announcements related to Regulation (EU) 2019/2088 – SFDR
The CSSF would like to bring to the attention of financial market participants and financial advisers some recent publications made by the European supervisory authorities (the ESAs) in respect of Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR). Q&A The ESAs…
30 July 2021
Circular CSSF 21/779
Adoption of the Guidelines of the European Securities and Market Authority (“ESMA”) on certain aspects of the MiFID II compliance function requirements (ESMA35-36-1952)
30 July 2021
Changes intended to optimise the authorisation processes of new UCI and new sub-funds added to existing fund structures
The CSSF hereby informs you of some procedural changes intended to optimise the authorisation process of new UCI and/or new sub-funds added to existing fund structures. A new questionnaire named “Fund Pre-Inception Readiness Review” is introduced and will need to be submitted with the application…
30 July 2021
- CSSF FAQ
FAQ CBDF - Notification procedures
List of questions/answers in relation to the CBDF Regulation highlighting the changes for notifications to the CSSF
30 July 2021
- Communiqué
European Commission announcements related to Regulation (EU) 2019/2088 - SFDR
The CSSF would like to bring to the attention of financial market participants and financial advisers some recent publications made by the European supervisory authorities (the ESAs) in respect of Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR). Q&A The ESAs…
30 July 2021
- Communiqué
Changes intended to optimise the authorisation processes of new UCI and new sub-funds added to existing fund structures
The CSSF hereby informs you of some procedural changes intended to optimise the authorisation process of new UCI and/or new sub-funds added to existing fund structures. A new questionnaire named “Fund Pre-Inception Readiness Review” is introduced and will need to be submitted with the application…
30 July 2021
- Circular CSSF
Circular CSSF 21/779
Adoption of the Guidelines of the European Securities and Market Authority (“ESMA”) on certain aspects of the MiFID II compliance function requirements (ESMA35-36-1952)
30 July 2021
- Communiqué
Communication related to the publication of the Law of 21 July 2021 transposing Directive (EU) 2019/1160
The CSSF informs that Circular CSSF 11/509 has been updated in order to include amendments relating to the Law of 21 July 2021 transposing Directive (EU) 2019/1160 with regard to cross-border distribution of collective investment undertakings (“CBDF Directive”), and in particular the process of de-notification…
29 July 2021
- Warning
Warning concerning the website www.rdf-investissement.com
The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website www.rdf-investissement.com, where an entity offers investment services under the name of RDF Investissement and pretends to be established at 19 Boulevard Royal, Luxembourg. Moreover, the entity offers a so-called savings account…
29 July 2021
- Communiqué
Luxembourg IFMs compliance with the Benchmarks Regulation
BMR Thematic Review July 2021
In 2020, the CSSF’s “UCI On-site Inspection” department carried out a thematic review in relation to Regulation (EU) 2016/1011 of 8 June 2016 (“Benchmarks Regulation” or “BMR”). The BMR was published in the European Official Journal on 29 June 2016…
29 July 2021
- Communiqué
AML/CFT controls applied to unregulated AIFs by the IFM
Thematic review June and July 2020
Recent years have seen an increasing trend for the management of alternative investment funds (“AIF”) not supervised by the CSSF for anti-money laundering and countering the financing of terrorism (“AML/CFT”) purposes by Luxembourg investment fund managers (“IFM”). In this…
29 July 2021
- Press release
Global situation of undertakings for collective investment at the end of June 2021
Press release 21/18
As at 30 June 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 5,487.526 billion compared to EUR 5,332.392 billion as at 31 May 2021, i.e.…
29 July 2021
- Press release
SEC Thailand and CSSF sign a Fintech information sharing agreement
Press release 21/17
The Securities and Exchange Commission, Thailand (SEC Thailand) and the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) have signed a Memorandum of Understanding on information sharing regarding Fintech and Innovation in their respective financial markets. The Memorandum of Understanding provides a…
28 July 2021
- Circular CSSF
Circular CSSF 21/778
Update of Circular CSSF 11/509 in accordance with Directive (EU) 2019/1160
27 July 2021
- Warning
Warning concerning the website www.lunav-invest.com
The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website www.lunav-invest.com where an entity named “Lunav-Invest” offers investment services, including in particular a so-called term savings account called “Lunav Invest 2021”, and pretends to be established at 11, avenue de la…
19 July 2021
- Warning
Warning concerning the website www.ainainvestment.com
The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website www.ainainvestment.com where an entity offers investment services and pretends to be established at 20 Boulevard Emmanuel Servais, L-2535 Luxembourg. The CSSF informs the public that the entity presenting itself on this…
16 July 2021
- Podcast
A new approval framework for (mixed) financial holding companies of banking groups
Anne-George Kuzuhara, Deputy Head of the Banking Supervisory Policy and Single Supervisory Mechanism Coordination, and Nicolas Bernon, expert on banking regulation at the CSSF, explain what the new framework introduced by the CRD V means for (mixed) financial holding companies that are parents of EU…
16 July 2021
- Communiqué
CSSF COVID-19 reportings relating to investment fund managers end on 30 July 2021
On 10 March 2020, the CSSF implemented a specific monitoring of the largest investment fund managers (“IFM”) by collecting data on significant developments/issues as well as large redemptions for the investment funds they manage. The scope of the ad hoc reporting installed in that context…
14 July 2021
- Warning
Warning concerning fraudulent activities misusing the name of the Luxembourg credit institution HSBC Private Bank (Luxembourg) S.A.
The Commission de Surveillance du Secteur Financier (CSSF) warns the public against unknown persons misusing the name and address of the Luxembourg credit institution HSBC Private Bank (Luxembourg) S.A. These persons which fraudulently pose as advisors of “Banque HSBC” contact without solicitation possible investors offering…
13 July 2021
- Interview
Karen O’Sullivan, Head of the CSSF’s Innovation, Payments, Market Infrastructures and Governance Department spoke at the Funds Europe webinar on tokenisation and asset management
https://www.funds-europe.com/news/cssf-exec-calls-for-harmony-on-crypto-rules
13 July 2021
- Interview
Karen O’Sullivan, Head of the CSSF’s Innovation, Payments, Market Infrastructures and Governance Department, shared the regulator’s view on governance on the LFF’s webinar dedicated to this topic
https://streaming.bce.lu/luxembourg-for-finance/focus-on-governance/26/#/event
13 July 2021
- Interview
Isabelle Jaspart, Head of division – Legal Department, and Anne-George Kuzuhara, Deputy Head of the Banking Supervisory and SSM Coordination Department at the CSSF discussed the post-Brexit world from the regulators perspective
https://www.luxembourgforfinance.com/portfolio/the-regulators-perspective-a-post-brexit-reality/
12 July 2021
- Circular CSSF
Circular CSSF 21/777
Implementation of the Guidelines of the European Securities and Markets Authority (ESMA) on outsourcing to cloud service providers by amending the scope of Circular CSSF 17/654, as amended
9 July 2021
- Warning
Warning regarding the activities of an entity named "primecryptocapital"
The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named “primecryptocapital” which, on the website www.primecryptocapital.com, offers investment services and indicates that it has a relationship with an entity named “Banc de Luxembourg”. In this context, the…
9 July 2021
- Warning
Warning regarding the activities of an entity named "Grandefex"
The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named “Grandefex” (website: www.grandefex.com), which offers investment services and pretends to be established at 412, route d’Esch, L-1471 Luxembourg. The CSSF informs the public that an entity named…
6 July 2021
- Circular CSSF
Circular CSSF 21/776
on the conditions for the application of the alternative treatment of institutions’ exposures related to ‘tri-party repurchase agreements’ for large exposures purposes (EBA/GL/2021/01)
6 July 2021
- Communiqué
ESMA provides clarification on the reporting of risk measures under AIFMD
The CSSF draws attention to the publications dated 28 May 2021 concerning new ESMA Q&As and an updated Opinion “Collection of information for the effective monitoring of systemic risk under Article24(5), first subparagraph, of the AIFMD”, in order to provide clarifications on the risk measures…
5 July 2021
- Circular CSSF
Circular CSSF 21/775
FATF statements concerning 1) high-risk jurisdictions on which enhanced due diligence and, where appropriate, counter-measures are imposed 2) jurisdictions under increased monitoring of the FATF
5 July 2021
- Circular CSSF
Circular CSSF-CPDI 21/26
Survey on the amount of covered deposits held on 30 June 2021
5 July 2021
- Studies and reports
Climate-related risk and financial stability
A long-term scenario analysis for EU banks, investment funds and insurers suggest that credit and market risk could increase as a result of a failure to effectively counteract global warming, according to a joint report by the European Central Bank (ECB) and the European Systemic…
2 July 2021
- CSSF Regulation
CSSF Regulation No 21-02 of 30 June 2021 (only in French)
on the setting of the countercyclical buffer rate for the third quarter of 2021.
1 July 2021
- Warning
Warning regarding the activities of an entity named “Royal State Bank”
The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named “Royal State Bank” which, on the website www.royalstatebank.com, offers banking and investment services and pretends to be established at 56A Boulevard Royal, L-2769 Luxembourg. The CSSF informs…
30 June 2021
- Circular CSSF
Circular CSSF 21/774
Update of Circular CSSF 14/593, as amended by Circulars CSSF 15/613, CSSF 15/621, CSSF 16/640, CSSF 17/663, CSSF 18/678, CSSF 18/685, CSSF 19/715, CSSF 19/729 and CSSF 20/745 on supervisory reporting requirements applicable to credit institutions
30 June 2021
- Communiqué
Reporting according to Annex IV to Commission Delegated Regulation (EU) No 231/2013 supplementing Directive 2011/61/EU – Update of the description of the feedback files and controls on the reporting files (only in French)
La CSSF informe que suite à l’implémentation de nouvelles règles de validation sur les fichiers de reporting GFIA et FIA le document qui décrit les différents fichiers de retour que les expéditeurs du reporting GFIA reçoivent et qui décrit également les contrôles que la CSSF…