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Pursuant to Part I, Chapter 2, Section 2, Sub-section 3 of the Law of 5 April 1993 on the financial sector, the professionals of the financial sector falling within the following categories are defined as support PFS:
One characteristic of support PFS is that they do not as such exercise a financial activity themselves, but act as subcontractors of operational functions on behalf of other financial professionals.
The CSSF exercises its prudential supervision based on several instruments, mainly financial and ad hoc information, documents to be submitted in the context of the Risk Assessment Report (RAR) and the Descriptive Report (DR), introductory visits and on-site inspections. This supervision also involves sending deficiency letters.
The CSSF works in order to align its supervisory approach more with the continuously evolving specificities of the activities of the various categories of support PFS.