Regulatory Alerts2022-05-18
Added · Updated
CSSF Circular 22/812: Adoption of EBA Guidelines on Limited Network Exclusion under PSD2
The CSSF integrates the EBA Guidelines on the limited network exclusion under Directive 2015/2366 into its administrative practice and regulatory approach. All persons providing services in Luxembourg based on specific payment instruments under article 3(k) of the law of 10 November 2009 on payment services are subject to these Guidelines. Entities with total payment transaction values exceeding EUR 1 million over the preceding 12 months must submit a notification to the CSSF using the new form available on the CSSF website. Existing entities benefiting from the exclusion must submit a new notification taking into account the Guidelines by 1 September 2022.
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