The CSSF SREP 2025 supervisory disclosure, published on 29 June 2026, is a short spreadsheet that describes, in the regulator’s own words, how the CSSF runs the supervisory review and evaluation process (SREP) for Luxembourg investment firms. It carries no firm names and no individual scores. For a Class 2 investment firm it is still…
Last updated: July 2026 An ECB-approved internal model is a supervisory decision the bank asked for and agreed to run. Treat it as optional for a few quarters and the capital ratios you report to the ECB stop being true. That is the practical lesson from the ECB internal models sanction announced on 29 June…
Last updated: June 2026 Sign a service agreement to run portfolio management technology for an external manager, switch it on, and assume the corporate object in your statutes already covers it. That is the sequence the CSSF IFM ancillary services notification is built to interrupt. On 19 June 2026 the CSSF told the Luxembourg fund…
Last updated: June 2026 A UCITS merger submitted to the CSSF without the required Article 67 information is not a complete application. The CSSF UCITS merger forms now sit at the front of that process, and the decision clock the regulator runs against your file only starts once the file is judged complete. Get the…
Last updated: June 2026 A relationship manager flags a client as awkward. The country profile is messy, the ownership chain runs through two jurisdictions, and the file would take real work to keep current. The easy answer is to exit. Close the account, decline the onboarding, and the risk number on the dashboard goes down….
Last updated: June 2026 Value an illiquid asset wrong and the error does not stay contained. It feeds straight into the net asset value, into the price at which investors subscribe and redeem, and sometimes into a modified audit opinion. The CSSF illiquid asset valuation review, published on 4 June 2026, sets out where Luxembourg…
Last updated: June 2026 A marketing notification the CSSF treats as incomplete does not start the statutory clock. The AIF and ELTIF marketing notification file sits in the queue, the twenty working day period does not begin to run until the file is complete, and the launch date a distribution team promised the manager can…
Last updated: June 2026 A trader on your platform splits a large sell into a string of small orders, cancels most of them within seconds, and walks the visible price down before lifting it again. Your surveillance dashboard flags it. Now the clock is running, because MiCAR STOR reporting is not a back-office nicety. Under…
Last updated: June 2026 If a Luxembourg credit institution or financial institution ends up on AMLA’s list of selected obliged entities, its day-to-day AML/CFT supervisor changes. Its supervisor moves from the CSSF to a Frankfurt-based EU body that reviews policies, runs inspections, and can impose pecuniary sanctions. AMLA direct supervision is that mechanism, and the…
Last updated: June 2026 A CSSF AML/CFT sanction rarely turns on an exotic typology. It turns on the housekeeping. The administrative fine the CSSF imposed on 5 March 2026, and published on a nominative basis on 9 June 2026, is a clean example. A Luxembourg specialised professional of the financial sector running a domiciliation business…