Regulatory Alerts2020-12-07
Added · Updated
Circular CSSF 20/758 on central administration, internal governance and risk management for investment firms
Circular CSSF 20/758 replaces Circular CSSF 12/552 for investment firms, extending the scope to financial holding companies and mixed financial holding companies. It incorporates EBA and ESMA guidelines on internal governance, suitability assessments, interest rate risk, and modified duration corrections. The new rules specify proportionality linked to systemic institutions, strengthen management body diversity and independence, and require consideration of ESG risk factors. The circular applies from 1 January 2021.
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