Regulatory Alerts2025-01-09
Added · Updated
Circular CSSF 25/870 amending Circular CSSF 24/853 on the revised long form report for investment firms
Circular CSSF 25/870 expands the scope of the revised long form report (LFR) to apply to all investment firms for the financial year ending 31 December 2024, whereas it previously applied only to a sample. Investment firms subject to the provisions for the first time, designated as Partial Scope IF, are exempted from submitting Agreed Upon Procedure (AUP) reports but must still submit reports on client asset protection and anti-money laundering/countering the financing of terrorism. The CSSF may exempt specific investment firms from these requirements if they represent an undue burden due to exceptional situations, such as winding down operations.
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