CSSF
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 […]
Brexit: understanding the transition period
On 31 January 2020, following the formal adoption of the withdrawal agreement, the UK officially left the European Union. Now begins the transition period outlined in the Brexit deal, which provides details on how the UK’s exit will unfold. For example, it states that no UK representative can participate in any EU institution, agency or body. It further declar […]
CSSF focus for 2020
Just before issuers and auditors started winding down for the festive season, the CSSF published its enforcement priorities for 2020. Recently issued IFRS 9, 15 and 16 were among the points at the top of the agenda – no surprises there, right?! Let’s take a look at what’s at the top of the CSSF’s agenda for the year ahead… IFRS 16 Lease The C […]
CSSF views of IFRS 9 implementation by credit institutions
In the summer, we looked at IFRS 9 from the point of view of the investors. Here, we bring you the insightful and valuable findings shared by our local regulator CSSF in their IFRS 9 follow-up study covering 126 banks. In this blog we focus on their findings related to the qualitative aspects of IFRS 9. If you are interested in the quantitative impact, read more […]
