CSSF circular 20/759 shakes things up in the Board Room

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. […]

ICAAP, ILAAP and stress testing: everything banks need to know about the new CSSF circular

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. Tell me more On 23 October 2020, the CSSF released […]

Grand-Ducal Regulation of 14 August 2020: key changes and clarifications

On 14 August 2020, the CSSF amended the Grand Ducal Regulation (GDR) of 1 February 2010. This amended GDR updates and provides clarifications on certain provisions of the Law of 12 November 2004 on the fight against money laundering and terrorist financing, notably regarding the amendments from the transposition of the fourth and fifth anti-money laundering (AML […]

CSSF Regulation 20-05: changes and clarifications

On 14 August 2020, Luxembourg’s financial regulator CSSF published Regulation 20-05 (“the Regulation”), amending CSSF Regulation 12-02 of 14 December 2012 regarding the fight against money laundering (ML) and terrorist financing (TF). The Regulation, which entered into force on 24 August 2020, aims to provide further clarifications to professionals regardi […]

CSSF Circular 20/750 implements EBA Guidelines on ICT and security risk management in Luxembourg

On 25 August 2020, the CSSF published Circular 20/750 implementing the EBA Guidelines on ICT and security risk management in Luxembourg. These guidelines establish a consistent approach to the mitigation and management of these risks in all EU countries. Are you ready for the Circular? Download our self-assessment to assess your preparedness and define a resp […]

The results are in! Here’s how the CSSF enforced 2018 financial information

As the regulator of Luxembourg’s financial sector, the CSSF performs annual enforcement campaigns to check whether the financial information provided by the issuers of securities complies with relevant reporting framework, e.g. IFRS. The 2019 campaign examining financial information from 2018 was carried out as both unlimited scope examinations (evaluation of […]