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ARTICLE · 04 JANUARY 2018

Qualifying Holdings In The Financial Sector

ELVINGER HOSS PRUSSEN, société anonyme
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In September 2017, the CSSF published a new Circular (Circular 17/669 ) on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector

LuxembourgFinance and Banking
Elvinger Hoss Prussen
Elvinger Hoss Prussen

In September 2017, the CSSF published a new Circular (Circular 17/669) on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector1.

It applies to qualifying holdings in the following entities:

  • credit institutions;
  • investment firms;
  • insurance companies;
  • reinsurance companies;
  • Central counterparties.

This new Circular follows the publication by ESMA, EBA and EIOPA of joint guidelines ("Guidelines") on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector. (JC/GL/2016/01 of 20 December 2016)

It became applicable on 1 October 2017 and the previous CSSF Circular on that topic (Circular 09/392), was repealed on that date.

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