Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 15 NOVEMBER 2023

New Guidance On Remuneration Requirements Based On MiFID II

CMS Luxembourg
Explore more from CMS Luxembourg

On 13 October 2023, the CSSF released a circular on remuneration requirements under Directive 2014/65 on markets in financial instruments ("MiFID II") to integrate into the CSSF's administrative practice...

LuxembourgCorporate/Commercial Law
Aurélia Viémont
Aurélia Viémont
Sarah Hantscher
Sarah Hantscher
Mélanie Poirrier
Mélanie Poirrier
Anne Picot-Guillot
Anne Picot-Guillot
Author LinkedIn connections

On 13 October 2023, the CSSF released a circular on remuneration requirements under Directive 2014/65 on markets in financial instruments ("MiFID II") to integrate into the CSSF's administrative practice and regulatory approach the Guidelines of ESMA on certain aspects of the MiFID II remuneration requirements published in April 2023.

On 13 October 2023, the Commission de Surveillance du Secteur Financier (the "CSSF") released a circular on remuneration requirements under Directive 2014/65 on markets in financial instruments ("MiFID II").

Circular CSSF 23/841 aims at (i) integrating into the CSSF's administrative practice and regulatory approach the Guidelines of the European Securities and Markets Authority ("ESMA") on certain aspects of the MiFID II remuneration requirements published in April 2023, (ii) repealing Circular CSSF 14/585 which had added an Annex V to Circular CSSF 07/37 on conduct of business rules in the financial sector and consequently (iii)

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

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.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

New Guidance Issued By The Luxembourg Business Registers On Beneficial Ownership Registration

The Luxembourg Business Registers has issued new guidance requiring entities held by fiducies, trusts, or foundations to look through these structures when determining beneficial ownership for registration purposes. This circular introduces significant changes to how beneficial owners must be identified and reported, aligning Luxembourg's approach with upcoming EU regulations and potentially requiring many entities to review and amend their existing registrations.
LuxembourgCorporate/Commercial Law
A&O Shearman
A&O Shearman
Article

New LBR Sanctions Regime

Luxembourg has strengthened its enforcement framework for the Register of Beneficial Owners and Trade and Companies Register, granting the Luxembourg Business Registers new administrative powers to monitor compliance and impose sanctions. Starting September 2026, entities with incomplete or inaccurate filings may face progressive penalties including daily fines, administrative deregistration, and potential dissolution.
LuxembourgCorporate/Commercial Law
Loyens & Loeff
Loyens & Loeff
Article

Luxembourg Business Registers Launches Enforcement Phase Of RCS And RBE Compliance Procedure

Luxembourg's Business Registers will begin enforcing compliance sanctions from September 2026, introducing a graduated penalty system for entities with incomplete or inaccurate RCS and RBE filings. The framework progresses from public warnings to daily fines of EUR 40 and potential deletion from the registers, with entities able to regularise their position at any stage to avoid escalating consequences.
LuxembourgCorporate/Commercial Law
Tiberghien
Tiberghien
Article

Luxembourg Business Registers Launches Enforcement Phase For RCS And RBE Compliance

Luxembourg's business registers have entered an enforcement phase targeting companies that have failed to comply with RCS (Registre de Commerce et des Sociétés) and RBE (Registre des Bénéficiaires Effectifs) requirements. Non-compliant entities now face potential penalties and administrative actions as authorities intensify their regulatory oversight. Understanding these enforcement measures and compliance obligations is critical for businesses operating in Luxembourg's jurisdiction.
LuxembourgCorporate/Commercial Law
Luther Luxembourg S.A.
Luther Luxembourg S.A.
Article

Luxembourg Business Registers Clarifies RBE Filings For Companies Held By A Trust Or Foundation

Luxembourg's Business Register has clarified how beneficial ownership rules apply when companies are held through trusts or foundations, requiring entities to register the underlying trust or foundation's beneficial owners rather than applying the standard corporate ownership test. This interpretation, issued without a transitional period, means affected entities must immediately review their beneficial ownership filings to ensure compliance with the Register's position.
LuxembourgCorporate/Commercial Law
Tiberghien
Tiberghien