Regulatory Alerts2020-12-07
Circular CSSF 20/758 on central administration, internal governance and risk management
The Commission de Surveillance du Secteur Financier (CSSF) issued Circular 20/758 to establish prudential requirements for central administration, internal governance, and risk management in investment firms. This regulation supersedes the previous Circular 12/552 and mandates that firms implement robust organizational structures and risk control mechanisms to ensure compliance and operational stability. The document outlines specific obligations for directors, authorized managers, and key function holders regarding their appointment and ongoing responsibilities within the regulated entity.
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