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ARTICLE · 02 SEPTEMBER 2022

Outsourcing Arrangements

ELVINGER HOSS PRUSSEN, société anonyme
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On 30 June 2022, Circular 22/806 on outsourcing arrangements ("OS Circular") became applicable to all outsourcing arrangements entered into, reviewed or amended by the in-scope entities on or after 30 June 2022.

LuxembourgFinance and Banking
Elvinger Hoss Prussen
Elvinger Hoss Prussen

On 30 June 2022, Circular 22/806 on outsourcing arrangements ("OS Circular") became applicable to all outsourcing arrangements entered into, reviewed or amended by the in-scope entities on or after 30 June 2022.

A transition period is provided for outsourcing arrangements in force before 30 June 2022:

  • in line with the OS Circular, their documentation must be completed following the first renewal date of each existing arrangement, and by no later than 31 December 2022.
  • In-scope entities which have not reviewed by 31 December 2022 outsourcing arrangements of critical or important functions existing prior to 30 June 2022 must inform the CSSF.

Together with the OS Circular, the CSSF has published an FAQ and the following circulars in relation with outsourcing arrangements:

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