Regulatory Alerts2019-06-14
CSSF Circular 19/720: Adoption of EBA Guidelines on Exemption from Contingency Mechanism under RTS on SCA & CSC
The CSSF issued Circular 19/720 to formally adopt the European Banking Authority Guidelines EBA/GL/2018/07 regarding exemptions from the contingency mechanism. These guidelines establish the specific conditions under which institutions may benefit from an exemption as provided for in Article 33(6) of Regulation (EU) 2018/389. This adoption ensures that Luxembourg supervisory practices align with the European Banking Authority's regulatory standards on Strong Customer Authentication and Common and Secure Communication.
Share