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ARTICLE · 26 MARCH 2019

CSSF Circular 18/698: Clarifications Relating To Combatting Money Laundering And Terrorist Financing

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With circular 18/698 of 23 August 2018 on (i) the authorisation and organisation of Luxembourg investment fund managers ...

LuxembourgGovernment, Public Sector
Virginie Gonella
Virginie Gonella
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Background

With circular 18/698 of 23 August 2018 on (i) the authorisation and organisation of Luxembourg investment fund managers, and (ii) provisions on combatting money laundering and terrorist financing applicable to investment fund managers and entities carrying out the function of registrar agent (the Circular), the Commission de Surveillance du Secteur Financier (CSSF) provides clarifications and, to some extent, introduces new requirements aimed at increasing transparency in the fight against money laundering and terrorist financing.

This briefing focuses particularly on the anti-money laundering and combating the financing of terrorism (AML/CFT) provisions set out in sub-chapter 5.4 of the Circular.

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