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on the transfer of non-performing loans, and: 1° transposing Directive (EU) 2021/2167 of the European Parliament and of the Council of du 24 November 2021 on credit servicers and credit purchasers, and amending Directives 2008/48/EC and 2014/17/EU; 2° implementing Regulation (EU) 2022/2036 of the European…
The CSSF hereby informs you that the UK Financial Conduct Authority (FCA) has recently published a policy statement setting out the final rules and guidance necessary to implement the Overseas Funds Regime (OFR). By way of a reminder, the OFR is meant to replace the…
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The CSSF has recently observed that, for a certain number of AIFs investing in illiquid assets, diverging approaches amongst Luxembourg depositaries, as regards the controls implemented for properly executing their safekeeping duties of ownership verification and record keeping obligations, are being applied. While some depositaries…
This MMF Reporting Dashboard encompasses a set of indicators based on the data reported under Article 37 of the MMF Regulation, with data as from Q1/2020 onwards.
All statistics: link to the “Statistics” page
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The CSSF would like to bring the following information to the attention of the public. Article 31 of the Directive (EU) 2019/2162 of the European Parliament and of the Council of 27 November 2019 on the issue of covered bonds and covered bond public supervision…
The CSSF has been made aware of a recent worldwide major outage due to CrowdStrike Agent causing BSOD loop on Windows. CIRCL, the Computer Incident Center Luxembourg, published a technical report on this subject, including recommendations, available at this URL: https://circl.lu/pub/tr-87/. The CSSF strongly recommends…
In the context of the worldwide major outage due to “CrowdStrike Agent causing BSOD loop on Windows”, as referred to in the communiqué of the CSSF dated 19 July 2024, the CSSF hereby reminds Luxembourg-domiciled investment managers and undertakings for collective investment (UCI) as well…
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Following our press release dated 21 June 2024 on the new transmission method for monthly COREP-FINREP reports, please find attached the user guide which details the submission methods as well as the new naming convention applicable for the following reportings : Monthly reportings to be…
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Administrative sanction imposed on a support PFS
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Administrative sanction imposed on abrdn Investments Luxembourg S.A.
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After an unanimous adoption earlier in June, the national “DORA law” of 1 July 2024 was published in the Official Journal and will apply by 17 January 2025. This constitutes one more step towards a more resilient financial sector in Luxembourg. As the provisions of the…
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Administrative sanction imposed on the réviseur d’entreprises agréé (approved statutory auditor), Mr Thierry GRUN
Administrative sanction imposed on the credit institution BGL BNP Paribas S.A.
Press release 24/17
Reference is made to the CSSF press release 23/23 whereby the CSSF informed the public that, by three judgements dated 21 November 2023, the administrative court (Tribunal administratif) had rejected the legal challenges brought against the decisions adopted by the CSSF on…
The CSSF would like to inform the public that in the context of the implementation of the NIS2 Directive, the European Commission has recently published a Draft Implementing Regulation as well as the related Annex laying down the technical and the methodological requirements of cybersecurity…
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Administrative sanction imposed on Zeus Asset Management S.A.
The CSSF informs all investment fund managers and other relevant stakeholders that the European Commission has recently provided answers to three investment-management-related queries. Please see below a brief overview of the topics associated with these answers together with direct links to the European Securities and…
Survey on the amount of covered deposits held on 30 June 2024
Press release 24/16
As at 31 May 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 5,472.493 billion compared to EUR 5,421.538 billion as at 30 April 2024, i.e.…
Administrative sanction imposed on the investment fund manager Kasper Management Garbe Logistic Management Company S.à r.l.
(entry into force : 17 January 2025) Law of 1 July 2024 amending: 1° the Law of 5 April 1993 on the financial sector, as amended; 2° the Law of 13 July 2005 on institutions for occupational retirement provision in the form of a SEPCAV…
The CSSF would like to draw the attention of the public to the publication of the new banking package (CRR III/CRD VI) in the Official Journal of the European Union on 19 June 2024. The banking package amends Directive 2013/36/EU (CRD) and Regulation (EU) No…
1) high-risk jurisdictions on which enhanced due diligence and, where appropriate, counter-measures are imposed 2) jurisdictions under increased monitoring of the FATF
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 –…
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on the setting of the countercyclical buffer rate for the third quarter of 2024
In the course of 2023, the European Securities and Markets Authority (“ESMA”) performed a Common Supervisory Action (“CSA”) with national competent authorities (“NCAs”) across the EU/EEA on the supervision of the MiFID II disclosure rules with regard to marketing communications and advertisements of financial products…
Application of the Guidelines of the European Banking Authority on benchmarking of diversity practices, including diversity policies and gender pay gap, under Directive 2013/36/EU and Directive (EU) 2019/2034 (EBA/GL/2023/08)
Administrative sanction imposed on the investment fund manager Kasper Management