The CSSF draws the attention of professionals of the financial sector to the overhaul of the website of the competent Ministry of Finance, in particular, with regard to international financial sanctions, following the entry into force of the law of 19 December 2020 relating to the implementation implementation of restrictive financial measures:
In this context, the Ministry has also updated its guides to good conduct in matters of financial sanctions, which are available on the website of the Ministry of Finance in French and English and under the following link:
These guides contain non-exhaustive recommendations of a general nature relating to the implementation of financial sanctions. For more details on their content, the CSSF recommends that professionals of the financial sector subscribe to the newsletter of the Ministry of Finance, in order to also receive all updates related to financial sanctions.
In addition, the Ministry of Finance has posted on its website a new model of quarterly report on frozen funds for the attention of natural and legal persons who are required to execute restrictive measures and must inform the Ministry of Finance. the execution of any new restrictive measure without delay and without waiting for the end of the quarter to do so.
Finally, the CSSF reminds professionals coming under its supervision that the aforementioned law of December 19, 2020 confers on it, under Article 6 (4), the same powers as those granted by the law of November 12, 2004 relating to the fight. against money laundering and against the financing of terrorism by its articles 8-2, 8-4, 8-5, 8-6 and 8-7.
This news item was originally published by the Commission de Surveillance du Secteur Financier (CSSF LU). For more information, please see the Source Link.