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.
Published on 7 December 2020
Updated on 30 June 2022
Email this
Share this on LinkedIn
Share this on Facebook
CSSF circular
on central administration, internal governance and risk management
PDF (672.14Kb)
PDF (453.93Kb)
Related documents
22 April 2022
Updated on 9 April 2025
Circular CSSF 22/806 (as amended by Circular CSSF 25/883)
on outsourcing arrangements
PDF (736.05Kb)
PDF (655.28Kb)
7 December 2020
Prudential procedure for the appointment of directors, authorised managers and key function holders in investment firms (only in French)
Applicable as from 1 January 2021
PDF (161.31Kb)
7 December 2020
Circular CSSF 20/757
Introduction of Circular CSSF 20/758 on central administration, internal governance and risk management, and repeal of Circular CSSF 12/552 for investment firms, as amended by Circulars CSSF 13/563, 14/597, 16/642, 16/647, 17/655 and 20/750, on central administration, internal governance and…
PDF (1.19Mb)
PDF (1.18Mb)
14 October 2021
Archived on 30 June 2022
Circular CSSF 21/785 repealed by Circular CSSF 22/805
Replacement of the prior authorisation obligation by a prior notification obligation in the case of material IT outsourcing
PDF (310.39Kb)
PDF (310.39Kb)