On 13 December 2024, Luxembourg's Commission de Surveillance du Secteur Financier (CSSF) released a new FAQ addressing Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) on the asset side due diligence requirements under CSSF Regulation No. 12-02.
The FAQ clarifies that for securities admitted to trading on a regulated market, professionals can fulfil their due diligence obligations by demonstrating, upon request, that the securities are indeed admitted to trading on such a market. This streamlined approach simplifies compliance for professionals handling these types of securities.
Additionally, the FAQ provides guidance on the required frequency of AML/CFT checks for other assets that are not admitted to trading on a regulated market, offering further clarity for entities navigating due diligence requirements.
CSSF's FAQ's can be found here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
