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ARTICLE · 15 FEBRUARY 2024

CSSF Circular 24/850 Introduces New Reporting Obligations For Support PFS

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On 19 January 2024, the Commission de Surveillance du Secteur Financier (CSSF) published a new Circular No. 24/850 (Circular 24/850)...

LuxembourgFinance and Banking
Adrien Pierre
Adrien Pierre
Vanesa Gomez Pena
Vanesa Gomez Pena
Elena Mouzaki
Elena Mouzaki

On 19 January 2024, the Commission de Surveillance du Secteur Financier (CSSF)published a new Circular No. 24/850 (Circular 24/850) implementing new practical rules concerning the supervision of support professionals of the financial sector (PFS) authorised pursuant to the Luxembourg Law of 5 April 1993 on the financial sector, as amended (LFS) and repealing precedent CSSF Circulars 12/544 concerning the optimisation of the supervision exercised on the "support PFS" by a risk-based approach (Circular 12/544) and 19/727 concerning arrangements for the transmission of the documents required under Circular CSSF 12/544 (Circular 19/727). The new framework amends the annual disclosure obligations of support PFS and their approved statutory auditors (réviseurs d'entreprises agréés or REAs) towards the CSSF as from the financial year ending on 31 December 2023.

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