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In the rapidly evolving financial landscape, regulatory compliance is more than just a checkbox; it’s a fundamental pillar ensuring the stability and integrity of financial markets. Two key regulations governing outsourcing and third-party ICT services in financial entities are CSSF CIRCULAR 22/806 and DORA (Digital Operational Resilience Act). While they share a number of similarities, the unique features of DORA offer some important benefits.

Le Rapport d’Analyse de Risques et le Rapport Descriptif doivent être soumis à la CSSF dans les 7 mois après la date de clôture et décrivent la situation du PSF de support sur l’année fiscale qui vient de s’écouler, comme stipulé dans les Circulaires CSSF 12/544 et 19/727.

CSSF has released a new Circular on 14 October for IT/Cloud Outsourcing. This new Circular replaces the prior authorisation requirement with a prior notification requirement in the event of outsourcing material activity but not business process outsourcing.

Our experts help both Luxembourg residents and cross-border commuters to optimise their tax situation by making the right decisions and accompanying them through the administrative procedures.

CSSF has released a new Circular on 14 October for IT/Cloud Outsourcing. This new Circular replaces the prior authorisation requirement with a prior notification requirement in the event of outsourcing material activity but not business process outsourcing.

Published in December 2020, the released Circular CSSF 20/758 on Central Administration, Internal Governance and Risk Management repeals CSSF Circular 12/552 and has been specificaly issued to the attention of Investment Firms.

Our experts help both Luxembourg residents and cross-border commuters to optimise their tax situation by making the right decisions and accompanying them through the administrative procedures.

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How are you providing crucial regulatory information timely and keeping financial soundness under control?

Our Grant Thornton experts could help you being compliant with General Data Protection Regulation (GDPR), the European Union’s (EU) new data protection law that comes into effect on 25 May 2018.