Aggregated News From Investment Management Regulators

CSSF LU

Warning regarding the activities of an entity named CryptoCapitalProfits

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the website https://cryptocapitalprofits.com/ and of unknown persons presenting themselves under the name “CryptoCapitalProfits” by proposing investment services. In doing so, they fraudulently use the name of the CSSF by pretending that the invested funds are blocked by the CSSF which would require payment of additional fees to unblock them. The CSSF informs the public that an entity named “CryptoCapitalProfits” is unknown to it, that it is not supervised by the CSSF and that it has not been granted any authorisation to provide investment services or other financial services...

The Committee of European Auditing Oversight Bodies (CEAOB) has issued its report aggregating the results of its thematic review on “Materiality in the context...

The CEAOB, which is the framework for co-operation between national audit oversight bodies at an EU level, has recently issued its report on “Materiality in the context of an audit” which aggregates the results of the thematic review carried out by its members in 2020 and 2021. The report provides an overview of how Big 4 Firms determine materiality levels and how Audit Committee Chairs perceive this assessment and interact with auditors on materiality matters. This report serves also the CEAOB as a support to address certain recommendations to auditors, audit committees and standard setters with the objective to enhance the...

Administrative sanction of 9 June 2022

Administrative sanction imposed on a “réviseur d’entreprises agréé” PDF (29.54Kb) PDF (31.52Kb) This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.

Administrative penalty of 18 July 2022

Administrative penalty imposed on a support PFS PDF (31.9Kb) PDF (29.77Kb) This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.

AML/CFT: The ABBL, the CRF and the CSSF sign a public-private partnership

In order to further strengthen their collaboration in the fight against money laundering and the financing of terrorism, the Luxembourg Bankers’ Association (ABBL), the Cellule de Renseignement Financier (CRF) and the Commission de Surveillance du Secteur Financier (CSSF) have signed a Public Private Partnership on 13 September 2022. The fight against ML/TF requires an integrated approach in which public authorities and industry representatives pool their knowledge and skills to prevent, detect and combat these crimes together. Such a public-private dialogue helps providing clarity on risks related to specific activities, typologies of crimes, regulatory expectations, and also aims at identifying specific...

Administrative sanction of 26 July 2022

Administrative sanction imposed on the specialised PFS Maitland Luxembourg S.A. PDF (35.53Kb) PDF (35.66Kb) This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.

Warning regarding the activities of an entity named AHE Finance (https://ahe-finance-ltd.com/)

The CSSF warns the public of the website https://ahe-finance-ltd.com/ where an entity offers online banking services, notably loans, under the name “AHE Finance” and pretends to be established at 49, Boulevard Prince Henri. The CSSF informs the public that an entity named “AHE Finance“ is unknown to it, that it is not supervised by the CSSF and that it has not been granted any authorisation to provide banking services or other financial services in or from Luxembourg. This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.

Profit and loss account of credit institutions as at 30 June 2022

The result before provisions and taxes of the Luxembourg banking sector 1 amounts to EUR 3,042.4 million for the first half of the year 2022, an increase of 9.8% compared to the same period of the year former. However, taking into account allocations to provisions caused by developments linked to the war in Ukraine, the net result shows a substantial drop of 27.8% in comparison with the year. Profit and loss account as of June 30, 2022 Items in millions of EUR January – June 2021 January – June 2022 Change % Interest margin 2,302.5 2,941.8 27.8% Net commission income 2,830.3 3,029.2 7.0% Other net income 1,362.2 1,145.7 -15.9% Net banking income 6,494.9 7,116.7 9.6% Personnel costs 1,506.2 1,610.7 6.9% Other overheads 2,216.7 2,463.6 11.1% Overheads 3,722.9 4,074.3 9.4% Earnings before provisions and taxes 2,772.0 3,042.4 9.8% Net profit 2,254.0 1,627.3 -27.8% Over the first half...

Communication regarding the pre-marketing notifications

Following the publication of Circular CSSF 22/810 on 12 May 2022 and the introduction of the new eDesk module – ePassporting on 1 July 2022 regarding the marketing notification and de-notification procedures, the following supervised entities must send pre-marketing notifications exclusively via the eDesk Portal as of 15 September 2022: Luxembourg AIFMs engaging in pre-marketing in Luxembourg or another Member State in accordance with Article 28-1 of the AIFM Law; Managers of Luxembourg EuVECAs and EuSEFs engaging in pre-marketing in Luxembourg or another Member State in accordance with Article 4a of Regulation (EU) No 345/2013 or Article 4a of...

Communication to the investment fund industry on SFDR RTS confirmation letter

By Communiqué “Communication to the investment fund industry on regulatory requirements in relation to Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR) and upcoming entry into force of SFDR Level 2 provisions (SFDR RTS)”, published on 27 July 2022, the CSSF reminded the deadline of 1 January 2023 for specific updates of UCITS and AIF pre-contractual documents. Further, the CSSF provided details in that Communiqué on how to proceed with the filing of updated pre-contractual documents in view of the upcoming entry into force of the SFDR RTS. The CSSF informs that the announced RTS confirmation letter,...

Warning regarding fraudulent activities by persons misusing the name of the Luxembourg company a&t capital S.A.

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of unknown persons who contact without solicitation potential investors by presenting themselves under the name “A&T Capital” and by using the email address format [email protected] to offer, among other things, a so-called investment account named “Livret diversifié”. In doing so, they misuse the name and address of the Luxembourg company a&t capital S.A. The CSSF would like to specify that the company a&t capital S.A., incorporated under Luxembourg law, is not related in any way to the facts referred to in this warning. This news item was originally published by...

User Guide concerning reporting under Art.37 of the MMFR

PDF (453.94Kb) This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.

Regulator Information

Abbreviation: CSSF
Jurisdiction: Luxembourg

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