Regulatory Alerts2023-05-16
Added · Updated
Mandatory use of the IMAS Portal for certain supervisory processes
The CSSF mandates the use of the IMAS Portal for specific supervisory processes involving credit institutions incorporated under Luxembourg law, including acquisition of qualifying holdings, passporting notifications, licensing procedures, and voluntary withdrawals of licensing authorizations for both significant and less significant institutions. For significant institutions only, the portal is required for appointments of management body members, authorization procedures for financial holding companies, credit quality on-site inspections, internal model changes, and outsourcing notifications. Submission of original documents is no longer required, but electronic submissions must be true copies of originals available upon request, and all subsequent exchanges of information must occur within the portal rather than via email.