Latest Newsletters & Newsflashes
Oct 06, 2022Fight against money laundering and terrorist financing | Amendments to the requirements for persons subject to the AML Law
On 12 August 2022, the law of 29 July 2022 entered into force (hereinafter the “ Law”) amending 1) the Code of criminal procedure, 2) the amended law of 8 August 2000 on international judicial assistance in criminal matters, 3) the amended law of 12 November 2004 on the fight against money
Mar 30, 2022CSSF FAQs on the AML/CFT RC Report
On 28 March 2022 the CSSF published frequently ask questions (the “ FAQs”) in relation to the annual completion and transmission of the fight against money laundering and terrorist financing compliance officer’s summary report (the “ AML/CFT RC report”) as defined in Article 42 (6) and 42 (7) of the
Jan 03, 2022Circular CSSF 21/788 | New AML/CFT external report
Background On 17 December 2021, the CSSF issued CSSF Circular 21/788 regarding guidelines for the Collective Investment Sector on the CSSF AML/CFT external report (the “ Circular”). Purpose The purpose of the Circular is to provide guidance on the report dedicated to anti-money laundering and
Jan 01, 2022Annual online AML survey
Background On 15 February 2022, the CSSF will start the annual online survey for the year 2021 (the “ Survey”). The Survey remains mostly unchanged compared to the previous year. However, some questions have been removed, added or amended. For ease of reference, the new questions have been
Aug 17, 2021Newsflash | Beating financial crime
The European Commission proposes a new anti-money-laundering draft legislation package to strengthen the EU's anti-money laundering and countering terrorism financing rules On 20 July 2021, the European Commission (“Commission”) presented an ambitious package of legislative proposals to strengthen
Jul 05, 2021Podcast | AML legal framework applicable to registered alternative investment fund managers
Evelyn Maher and Christoforos Soteriou lead you through the regulatory environment and update you on recent developments. You can listen also on Spotify or on BSP's YouTube channel. Listen to "Episode 1 - AML legal framework applicable to registered AIFMs" on Spreaker. Listen to "Episode 2 - AML
Feb 08, 2021COVID-19 | Luxembourg Law Updates
This section is intended as a general discussion on the latest topics concerning Covid-19 and the Luxembourg Law. If you would like to know more about the topics covered in this newsletter or our services please contact us. AML Annual AML Survey - Deadline Extended BANKING & FINANCE State Guarantee
Jan 02, 2021National Risk Assessment of ML/TF for the Year 2020
Background The 2020 national risk assessment of money laundering and terrorist financing (the “ NRA ”) was led by the Executive Secretariat of the National ML/TF Prevention Committee, with the input of a wide set of national stakeholders. The exercise was conducted in the first semester of 2020, and
Jan 01, 2021AML | RAIF’S RR and RC Identification Form must be completed and filed with the AEDT
On 16 December 2020, the Administration de l’enregistrement, des domaines et de la TVA (the “ AEDT ”) sent letters to reserved alternative investment funds (“ RAIFs ”) to request them to appoint, in accordance with article 4(1) of the law on the fight against money laundering and terrorist financing
Jan 01, 2021CSSF 2020 Survey related to the Fight against Money Laundering and Terrorist Financing
On 24 December 2020, the CSSF announced that it will roll-out its annual AML online survey for the year 2020 (the “ Survey”) on 15 February 2021. Similar to last year, the Survey is addressed to management boards or/and the board of directors of (i) credit institutions, (ii) investment firms, (iii)
Aug 15, 2020AML | CSSF Regulation 20-05 and GDR of 14 August 2020
Regulations amending CSSF Regulation 12-02 of 14 December 2012 and Grand Ducal Regulation of 1 February 2010 on the fight against money laundering and terrorist financing CSSF Regulation 20-05 of 14 August 2020 (“ CSSF Regulation”) amending CSSF Regulation No 12-02 of 14 December 2012 on the fight
Aug 15, 2020AML | CSSF Circular 20/746 on FATF Statements
On 9 July 2020, the CSSF published Circular CSSF 20/746 (repealing Circular CSSF 20/738 of 6 March 2020) updating all professionals under the supervision of the CSSF on the recent statements made by the Financial Action Task Force (“ FATF”) on jurisdictions identified with strategic deficiencies in
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