Regulatory Alerts2024-01-19
CSSF Circular 24/850 as Amended: Annual Reporting and Statutory Auditor Requirements for Support PFS
The Commission de Surveillance du Secteur Financier (CSSF) issued Circular 24/850, as amended by Circular 25/903, to mandate annual descriptive reporting, self-assessment questionnaires, and statutory auditor engagements for support PFS entities. The framework requires these entities to formally appoint approved statutory auditors who must annually produce a management letter and a separate report detailing compliance and operational controls. The December 2025 update further specifies test rotation plans for the separate report, structuring audit coverage by activity, authorization, and risk classification to optimize supervisory efficiency.
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