Regulatory Alerts2020-12-07
Added · Updated
Circular CSSF 20/758 on central administration, internal governance and risk management
This Circular specifies the measures investment firms incorporated under Luxembourg law must take regarding central administration, internal governance, and risk management. It repeals and replaces Circular CSSF 12/552 and establishes requirements for robust internal governance, including clear organizational structures, effective risk identification and management processes, and adequate internal control mechanisms. The document applies to investment firms on a stand-alone, sub-consolidated, and consolidated basis, incorporating the principle of proportionality to adjust obligations based on the size, nature, and complexity of the institution's activities.
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