Pursuant to Part I, Chapter 2, Section 2, Subsection 2 of the Law of 5 April 1993 on the financial sector (“LFS”), the professionals of the financial sector (“PFS”) falling within the following categories are defined as specialised PFS:
- Article 25. Registrar agents
- Article 26. Professional depositaries of financial instruments
- Article 26-1. Professional depositaries of assets other than financial instruments
- Article 27. Operators of a regulated market authorised in Luxembourg
- Article 28-3. Debt recovery
- Article 28-4. Professionals performing lending operations
- Article 28-5. Professionals performing securities lending
- Article 28-6. Family Offices
- Article 28-7. Mutual savings fund administrators
- Article 28-9. Corporate domiciliation agents
- Article 28-10. Professionals providing company incorporation and management services.
The prudential supervision of the CSSF extends to specialised PFS incorporated under Luxembourg law, including the activities which they carry out by means of a branch, and to Luxembourg branches of entities originating from abroad.
Prudential supervision is exercised by the CSSF on specialised PFS by means of these types of instruments:
- financial information submitted periodically to the CSSF enabling it to monitor continuously the activities of the relevant entities and the inherent risks, together with the monthly control of compliance with the minimum own funds legally required;
- the documents established yearly by the réviseur d’entreprises agréé, including the audit report and audited annual accounts, the control report relating to the fight against money laundering and terrorist financing and, where applicable, the management letter, the internal audit reports relating to audits carried out during the year and the management’s report on the state of the internal audit of the specialised PFS;
- the introductory visits and on-site inspections carried out by the CSSF.
The prudential supervision of the CSSF extends to the provision of financial services by POST Luxembourg. Please note that the activity of POST Luxembourg may be extended to all activities authorised for professionals of the financial sector under Luxembourg law other than credit institutions.