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Redesign of the website of the Ministry of Finance regarding international financial sanctions

The CSSF draws the attention of the professionals of the financial sector to the redesign of the website of the Ministry of Finance which is competent, among other things, for international financial sanctions, following the entry into force of the Law of 19 December 2020…

Warning concerning the website www.nexus-invest.lu

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website www.nexus-invest.lu where an entity offers investment services and pretends to be established at Rue Antoine Jans 10, L-1820 Luxembourg. The CSSF informs the public that the entity presenting itself on this…

Publication of CSSF working paper "The impact of COVID-19 on large redemptions in the Luxembourg investment fund market"

The CSSF presents in this working paper an analysis on large daily and weekly net redemptions in the Luxembourg investment fund industry. The paper relies on an original dataset compiled since March 2020, at the peak of the COVID-19 crisis, up to December 2020 over…

Publication of a new CSSF Circular on the obligation to notify in the case of IT outsourcing

Press release 21/25 In response to the continuing development of material IT outsourcing, the Commission de Surveillance du Secteur Financier (CSSF) simplifies its procedures for prior provision of information in this respect through Circular CSSF 21/785.
For the past 10 years, the financial sector players have…

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…

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…

FAQ: COVID-19

FAQ of 15 October 2021: Question 13 regarding banks’ distribution policies/remuneration is no longer applicable and is repealed

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

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…

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…

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…

CSSF Regulation No 21-03 of 30 September 2021

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

Circular CSSF 21/784

Periodic prudential reporting of investment firms

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…

Circular CSSF 21/783

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

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.…

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.…