European and international cooperation


    EU Authorities

    The financial crisis showed that it was necessary to re-organise the supervisory framework in order to anticipate efficiently any possible financial turbulence. In this context, the European System of Financial Supervision (ESFS) was created on 1 January 2011 in order to enhance the control of the financial activities in the European Union. It brings together the national supervisory authorities together in a solidly linked community network of which the CSSF is part.

    The CSSF participates in each of the four entities which compose the ESFS:

    • the European Systemic Risk Board (ESRB);
    • the European Supervisory Authorities (ESA) (European Banking Authority (EBA), European Securities and Markets Authority (ESMA), European Insurance and Occupational Pensions Authority (EIOPA));
    • the Joint Committee.

    The missions of the ESFS are, among others:

    • to remedy shortcomings in the financial supervision which were highlighted by the financial crisis;
    • to draw up a common regulation in relation to supervision;
    • to ensure that the regulation is applied by the national authorities;
    • to ensure the sound functioning and the integrity of the financial markets as well as the stability of the EU financial system;
    • to follow up and assess the development of the markets and to detect the trends, the possible risks and the vulnerabilities at the microprudential level.

    Banking supervision

    Basel Committe on Banking Supervision

    The Basel Committee on Banking Supervision is a committee of the Bank for International Settlements. The CSSF takes also part in different working groups set up by the Basel Committee.

    Securities and futures markets

    International Organization of Securities Commissions (IOSCO)

    The International Organization of Securities Commissions (IOSCO) promotes co-operation between supervisory authorities of securities and futures markets. The CSSF takes also part in different working groups created under the aegis of IOSCO.

    Financial market

    Institut francophone de la régulation financière (IFREFI)

    The Institut francophone de la régulation financière (Francophone institute for financial regulation, IFREFI) gathers the financial market regulatory authorities of fifteen French-speaking countries. Its purpose is to further exchanges, develop studies and exchange information in relation to the financial markets.


    Anti-money laundering and countering the financing of terrorism

    Financial Action Task Force (FATF)

    The Financial Action Task Force is an inter-governmental body. Its objectives are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The CSSF takes also part in different FATF working groups.


    Wolfsberg Group

    The Wolfsberg Group is an association with the purpose of developing financial industry standards and products relating to know-your-customer and anti-money laundering and counter-terrorist financing.



    Accounting Regulatory Committee (ARC)

    The Committee was established by the European Commission. It gives its opinion proposals of the European Commission to adopt International Accounting Standards (IAS/IFRS).


    Committee of European Auditing Oversight Bodies (CEAOB)

    The aim of the Committee of European Auditing Oversight Bodies is to ensure effective coordination of public oversight systems of statutory auditors and audit firms within the European Union.

    International monetary system

    International Monetary Fund (IMF)

    The CSSF cooperates with the IMF whose primary purpose is to ensure the stability of the international monetary system.


    Financial consumer protection and education


    Recognised as the global standard setter for the securities sector, the International Organization of Securities Commissions (IOSCO) is an international body made up of the world’s securities regulators. IOSCO develops, implements and promotes adherence to internationally recognised standards for securities regulation. It works intensively with the G20 and the Financial Stability Board (FSB) on the global regulatory reform agenda. The IOSCO Investor Education Gateway provides information on the on-line investor education activities of some IOSCO members, as well as IOSCO publications and presentations regarding investor education.


    Awareness of the importance of financial education is gaining momentum among policy makers in economies the world over. The OECD and its International Network on Financial Education (INFE) provide a unique policy forum for governments to exchange views and experiences on this issue.


    The International Financial Consumer Protection Organisation (FinCoNet) is an international organisation of supervisory authorities which have responsibility for financial consumer protection. FinCoNet promotes sound market conduct and strong consumer protection through efficient and effective financial market conduct supervision.

    Child & Youth Finance International

    Dedicated to increasing the economic citizenship of children and youth, Child and Youth Finance International (CYFI) connects the world’s largest network of organisations within the field of Child and Youth Finance.

    Memorandum of Understanding

    List of MoUs signed with EU authorities

    Date of signature Authority Country
    19.05.1993 Autorité de contrôle prudentiel (ACP) (Banque de France) France
    19.05.1993 Bundesaufsichtsamt für das Kreditwesen / BAFin Germany
    21.06.1993 Banco de Portugal Portugal
    06.07.1993 Commission bancaire, financière et des assurances (CBFA) Belgium
    01.09.1993 Banca d’Italia Italy
    19.07.1994 Finansinspektionen Sweden
    19.07.1994 Finanssivalvonta (Fiva) Finland
    19.07.1994 Finanstilsynet Norway
    01.02.1995 De Nederlandsche Bank Netherlands
    31.10.1995 Banco de España Spain
    10.07.1996 Central Bank of Ireland Ireland
    07.10.1997 Central Bank of Hungary Hungary
    20.07.2001 Czech National Bank (CNB) Czech Republic
    20.03.2001 Financial and Capital Market Commission Latvia
    25.10.2001 Polish Securities and Exchange Commission Poland
    29.09.2003 National Bank of Slovakia Slovakia
    12.12.2003 Securities Market Agency Slovenia
    14.11.2003 Romanian National Securities Commission Romania
    04.02.2013 Financial and Capital Market Commission Latvia
    04.02.2013 Financial and Capital Market Commission Latvia

    List of MoUs signed with non-EU authorities

    Date of signature Authority Country
    02.12.1996 Securities and Futures Commission (SFC) Hong Kong
    18.05.1998 China Securities Regulatory Commission China
    09.11.2000 Financial Services Board South Africa
    06.10.2000 Comissão de Valores Mobiliarios Brazil
    01.06.2004 Commission de Contrôle de la Gestion de Portefeuilles et des Activités Boursières Assimilées Monaco
    31.05.2005 Bermuda Monetary Authority Bermuda
    10.01.2006 Israel Securities Authority Israel
    26.02.2007 Monetary Authority of Singapore Singapore
    02.05.2007 Dubai Financial Services Authority Dubai
    09.11.2007 Central Bank of Bahrain Bahrain
    25.01.2008 Superintendencia de Valores y Seguros Chile
    01.02.2008 China Banking Regulatory Commission China
    20.01.2009 National Bank of Ukraine Ukraine
    13.03.2009 Banking Regulation and Supervision Agency Türkiye
    29.01.2010 National Bank of Kazakhstan Kazakhstan
    29.01.2010 Securities Commission Malaysia Malaysia
    23.08.2010 Financial Supervisory Commission Taiwan
    28.03.2011 Central Bank of Russia Russia
    06.04.2011 Federal Financial Markets Service Russia
    18.01.2012 Emirates Securities and Commodities Authority (ESCA) United Arab Emirates
    28.02.2012 Financial Supervision Commission Isle of Man
    13.03.2012 Qatar Financial Centre Regulatory Authority Qatar
    17.05.2012 Egyptian Financial Supervisory Authority Egypt
    28.11.2012 Securities and Exchange Commission Thailand
    31.01.2013 State Securities Commission Vietnam
    02.08.2013 Financial Services Agency of Japan (JFSA) / Certified Public Accountants and Auditing Oversight Board (CPAAOB) Japan
    15.09.2013 Conseil Déontologique des Valeurs Mobilières Kingdom of Morocco
    17.09.2013 Capital Market Authority Sultanate of Oman
    19.09.2013 Australian Securities and Investments Commission Australia
    04.10.2013 Swiss Federal Audit Oversight Authority (FAOA) Switzerland
    20.01.2014 Autorité fédérale de surveillance des marchés financiers (FINMA) Switzerland
    23.07.2014 Autorità di Informazione Finanziaria (AIF) Vatican
    14.08.2014 Banco Central do Brasil Brazil
    30.01.2015 Guernsey Financial Services Commission Guernsey
    17.09.2015 Public Company Accounting Oversight Board United States
    05.10.2015 Qatar Financial Markets Authority (QFMA) Qatar
    06.02.2017 Financial Services Regulatory Authority of the Abu Dhabi Global Market Abu Dhabi
    25.10.2018 Autoritat Financera Andorrana Principality of Andorra
    15.01.2019 Securities and Futures Commission (SFC) Hong Kong
    April 2019 Prudential Regulation Authority / Financial Conduct Authority (FCA) United Kindgom
    28.01.2020 Financial Services Commission Mauritius
    03.06.2021 The Securities and Exchange Board of India (SEBI) India
    23.07.2021 Service d’Information et de Contrôle sur les Circuits Financiers (SICCFIN) Monaco
    23.07.2021 Service d’Information et de Contrôle sur les Circuits Financiers (SICCFIN) Monaco
    14.12.2021 Bank of Mauritius Mauritius
    29.07.2022 International Financial Services Centres Authority (IFSCA) India
    16.02.2023 Albanian Financial Supervisory Authority (AFSA) Albania
    24.07.2023 Astana Financial Services Authority Republic of Kazakhstan

    List of MoUs signed with international counterparties

    Date of signature/date of entry into force Counterparty
    01.01.2001 ECB/Payment Systems
    01.03.2003 ECB/Cooperation in crisis situations
    08.05.2007 Multilateral MoU IOSCO
    27.05.2014 Multilateral MoU ESMA

    List of MoUs signed in the field of innovation in financial services

    Date of signature Authority Country
    03.10.2018 Australian Securities & Investments Commission (ASIC) Australia
    22.11.2018 Financial Services Regulatory Authority, Abu Dhabi United Arab Emirates
    28.11.2019 Dubai Financial Services Authority United Arab Emirates
    07.06.2021 Securities and Exchange Commission, Thailand Thailand
    28.02.2023 National Bank of Serbia Serbia