Regulatory Alerts2021-07-30
Added · Updated
CSSF Circular 21/779: Adoption of ESMA Guidelines on MiFID II Compliance Function Requirements
The CSSF integrates the ESMA Guidelines on certain aspects of the MiFID II compliance function requirements into its administrative practices and regulatory approach. Investment firms, credit institutions carrying out investment services, UCITS management companies, and AIFMs must comply with these Guidelines, which apply to organizational requirements under Article 16(2) of MiFID II and Article 22 of the MiFID II Delegated Regulation. The Guidelines repeal the 2012 ESMA guidelines, substantially confirming them while clarifying, refining, and supplementing them to account for new MiFID II requirements. This Circular applies with immediate effect.
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