On 11 November 2016, the Commission de Surveillance du Secteur
Financier (the "CSSF") published in the Luxembourg
official gazette (the "Mémorial") the Regulation
16-07 (the "New Regulation") which repeals and replaces
the Regulation 13-02 (the "Regulation 13-02").
The New Regulation adds clarity to definitions by precising the
concept of "consumer". It refers to the Luxembourg
Consumer Code and recalls that a consumer is any natural person who
acts for purposes which are outside his/her commercial, industrial,
artisanal or professional activity.
The New Regulation also clarifies the admissibility requirements
for a complaint with the CSSF by extending the scope of requests in
the field of statutory audit and by accepting requests that have
been filed via the European Online Dispute Resolution (ODR)
platform. The new text also requires consumers which intend to file
a request with the CSSF to take action within one year after having
introduced a request with the
