Regulatory Alerts2023-10-13
Added · Updated
CSSF Circular 23/841: Application of ESMA Guidelines on MiFID II Remuneration Requirements
The Commission de Surveillance du Secteur Financier (CSSF) issued Circular 23/841 to mandate the application of ESMA guidelines regarding specific MiFID II remuneration requirements for financial firms. This directive formally repeals Circular CSSF 14/585 and updates Circular CSSF 07/307 to align Luxembourg's conduct of business rules with the updated remuneration policies and practices framework. Firms subject to MiFID II must adjust their compensation structures and internal governance accordingly to ensure full compliance with the newly integrated regulatory standards.
Published on 13 October 2023
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CSSF circular
- Application of the Guidelines of the European Securities and Markets Authority ( “ESMA”) on certain aspects of the MiFID II remuneration requirements (ESMA35-43-3565)
- Repeal of Circular CSSF 14/585
- Modification of Circular CSSF 07/307
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Related documents
31 July 2007
Updated on 13 October 2023
Circular CSSF 07/307 (as amended by Circulars CSSF 13/560, 13/568, 14/585 and 23/841)
MiFID: Conduct of business rules in the financial sector
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25 February 2014
Archived on 13 October 2023
Circular CSSF 14/585 repealed by Circular CSSF 23/841
Transposition of the European Securities Markets Authority’s (ESMA) guidelines on remuneration policies and practices (MiFID) – Addition of Annexe V to Circular CSSF 07/307
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