LUXEMBOURG: CSSF Circular on reporting requirements applicable to investment firms from 2014

Tuesday November 19 2013

In accordance with Regulation (EU) No 575/2013 of 26 June 2013 on prudential requirements for credit institutions and investment firms, the Commission de Surveillance du Secteur Financier (CSSF) of Luxembourg has published Circular CSSF 13/575 on supervisory reporting requirements applicable to investment firms from 2014 in light of draft technical standards on reporting (ITS) published by the European Banking Authority (EBA).

The Circular confirms that the ITS on Supervisory Reporting published by the EBA will not be transposed into Luxembourg Law by virtue of the plan to publish the instrument as a directly applicable EU Regulation when adopted by the European Commission. The CSSF has also noted that the ITS on Supervisory Reporting as developed by the EBA may be subject to modifications by the European institutions in the process of adoption by the European Commission.

Amongst other things, the Circular provides details of those entities exempt from the reporting requirements (applicable from January 2014) and includes details in the Annex on information provided by investment firms on an individual level.

Click on the above link for the CSSF Circular (Only available in French).