Regulatory Alerts2023-10-13
CSSF Circular 23/841: Application of ESMA Guidelines on MiFID II Remuneration Requirements
The Commission de Surveillance du Secteur Financier (CSSF) issued Circular 23/841 to mandate the application of ESMA guidelines regarding specific MiFID II remuneration requirements for financial firms. This directive formally repeals Circular CSSF 14/585 and updates Circular CSSF 07/307 to align Luxembourg's conduct of business rules with the updated remuneration policies and practices framework. Firms subject to MiFID II must adjust their compensation structures and internal governance accordingly to ensure full compliance with the newly integrated regulatory standards.
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