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ARTICLE · 26 JANUARY 2022

Changes To Luxembourg Reporting Requirements

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On 22 December 2021, Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier ("CSSF") published three new circulars whose aim is to improve the risk-based supervision of the CSSF...

LuxembourgFinance and Banking
Johan Terblanche
Johan Terblanche
Michelle Barry
Michelle Barry
Donnchadh McCarthy
Donnchadh McCarthy
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On 22 December 2021, Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier ("CSSF") published three new circulars1 whose aim is to improve the risk-based supervision of the CSSF, both for prudential and anti-money laundering / counter terrorist financing ("AML / CFT") purposes, concerning investment fund managers ("IFMs") and investment funds regulated by the CSSF.

The Circulars introduce a number of new filing requirements for IFMs, regulated investment funds and their approved statutory auditors (réviseur d'enterprises agréé) ("REA").

Circular CSSF 21/788 - Guidelines for the Collective Investment Sector on the CSSF AML/CFT External Report

This Circular requires REAs to produce an annual report on the compliance by an IFM or an investment fund supervised by the CSSF with its AML / CFT obligations.

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