Regulatory Alerts2022-06-24
Added · Updated
CSSF Circular 22/816: Adoption of ECB Guideline 2022/508 and Recommendation 2022/13 on National Competent Authority Options and Discretions
The CSSF extends the application of ECB Guideline (EU) 2022/508 and Recommendation (EU) 2022/13 to all CRR investment firms and all Luxembourg branches of credit institutions or CRR investment firms incorporated in a third country. CSSF Regulation No 18-03 will be amended to implement the Guideline, which applies as of 1 October 2022, while the Recommendation applies with immediate effect. The circular also repeals Circular CSSF 18/682 and specifies that the CSSF continues to use national discretions regarding group exemptions for large exposures under Article 56-1 of the Law of 5 April 1993.
More like this from CSSF
We email you every new CSSF publication the day it's published.
Topics
Share