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ARTICLE · 14 SEPTEMBER 2020

New AML-CTF CSSF Regulation And Grand-Ducal Regulation

Arendt & Medernach
Arendt & Medernach
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Arendt & Medernach

Arendt & Medernach

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This newsflash sets out the main changes brought by these regulations, which will impact professionals that are subject to AML-CTF obligations and are regulated, registered or supervised by the CSSF.

LuxembourgGovernment, Public Sector
Glenn Meyer
Glenn Meyer
Stéphane Badey
Stéphane Badey
Manfred Hoffmann
Manfred Hoffmann
Helena Finn
Helena Finn
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This newsflash sets out the main changes brought by these regulations, which will impact professionals that are subject to AML-CTF obligations and are regulated, registered or supervised by the CSSF (e.g. credit institutions, investment firms and other professionals of the financial sector, investment funds and their management companies, etc.). These changes are, in essence, the following:

  • clarifications about the implementation of the risk-based approach, in particular in the investment fund industry;
  • specifications relating to the carrying out of customer due diligence ("CDD") measures;
  • implementation of the rules set by Regulation (EU) 2015/847 of the European Parliament and of the Council of 20 May 2015 on information accompanying transfers of funds;

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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