In December 2020 the CSSF published circular 20/759 (an update of circular 12/552) on central administration, internal governance and risk management.
It transposes (amongst others) EBA Guidelines 2017/11 on internal governance and joint EBA and ESMA Guidelines 2017/12 on suitability assessment of the members of the management body and key function holders.
What’s the story?
Banks in Luxembourg are facing new supervisory expectations as regards their ICAAP, ILAAP and stress testing frameworks following the latest CSSF publication.
What are the key changes introduced by the new circular? And how will they affect your bank? Get started by reading this digest.
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On 23 October 2020, the CSSF released […]
This article was originally published on kpmg.com by Mr. Steven J. Hall, Partner, Financial Risk Management, KPMG in the UK, Niven Huang, General Manager of KPMG Sustainability Consulting Co., Ltd., KPMG in Taiwan, Julie Patterson, Wealth & Asset Management, KPMG in the UK, Arnaud Van Dijk, Senior Manager, KPMG in Canada.
In the ‘new reality’ that wil […]