Regulatory Alerts2016-07-01
Added · Updated
CSSF Regulation No 16-07 relating to out-of-court complaint resolution
This regulation establishes the rules and procedures for the out-of-court resolution of complaints filed with the Commission de Surveillance du Secteur Financier (CSSF). It defines admissibility criteria, requiring prior written submission to the professional and a one-month waiting period for a response, and sets a standard 90-day deadline for the CSSF to issue reasoned conclusions. The document imposes specific obligations on supervised professionals, including the implementation of internal complaint management policies, clear disclosure of procedures, and a one-month limit for providing initial answers. The procedure is free of charge, non-binding, and conducted in writing, with the CSSF acting as the resolution body for consumers and other interested parties under specified legal frameworks.
More like this from CSSF
We email you every new CSSF publication the day it's published.