Events listed in circular
Periodic questionnaire on the prevention of money laundering and terrorist financing
ID 22953
The FSMA published Circular FSMA_2023_09, informing entities subject to the fight against money laundering and terrorist financing (AML/CFT) about the content and methods of transmitting information to assess the compliance and effectiveness of their AML/CFT measures. This circular provides detailed information on the FSMA’s approach to AML/CFT control, the questionnaire that entities subject to this control must complete, and the methods of transmitting this ...
Publication de la lettre circulaire 23/7 du Commissariat aux Assurances portant ...
ID 22845
The CAA issued Circular Letter 23/7, which modifies Circular Letter 23/5 related to annual reporting for brokerage companies and insurance or reinsurance brokers. This change is in response to potential confusion between premiums negotiated by brokers during the reference year and the amount of life insurance contracts taken out during the reference period. Specifically, ***Paragraph 5 of Part II, Letter A, point 2.6 of ...
Publication de la lettre circulaire 23/8 relative aux modalités d’introduction et ...
ID 22835
Circular Letter 23/8 provides guidance to Luxembourg insurance and reinsurance companies regarding the procedures for modifying their business plans. The circular reminds companies of their obligation to notify the CAA of any significant changes to their activities or plans, as required by the amended law of 7 December 2015 on the insurance sector (Law on the insurance sector – LIS). The circular explains that ...
Circulaire CSSF-CPDI 23/33
ID 22792
The CSSF published Circular CSSF-CPDI 23/33, serving to conduct a survey on deposits, particularly covered deposits, held by credit institutions incorporated under Luxembourg law, POST Luxembourg for its provision of postal financial services, and Luxembourg branches of credit institutions headquartered in a third country as of 31 March 2023. Covered deposits and eligible deposits are defined in Article 163 of the BRRD Law, and ...
Reform of interest rate benchmarks (PDF File, 113.4 KB)
ID 22780
The Hong Kong Monetary Authority (HKMA) has issued a circular as regards the termination of the remaining US dollar LIBOR tenors. Therein, the regulator basically reminds institutions of such termination, which includes the cessation of the 1-month, 3-month, and 6-month tenors, and asks them to distribute the enclosed flyer to their corporate customers. The flyer sets out – the final termination date of the ...
Circular Issued by the Insurance Authority („IA“) on Cessation of Phase ...
ID 22676
On April 4, 2023, the Hong Kong Monetary Authority HKMA issued a circular as regards the „Cessation of Phase 2 of the Temporary Facilitative Measures (TFM)“. Specifically, the HKMA informs authorized institutions and insurance companies about the cessation of specific measures that were introduced in 2020 in light of the COVID-19 pandemic. The measures provided for a non-face-to-face distribution of certain long-term insurance products ...
New circular on the notification procedure for UCITS of another Member State of the ...
ID 22592
The FSMA published Circluar FSMA_2023_07 on the Notification procedure for undertakings for collective investment governed by the law of another Member State of the European Economic Area and fulfilling the conditions of Directive 2009/65/EC, aiming to provide a comprehensive overview of the regulatory framework and procedures for marketing units of foreign law governed UCITS in Belgium. The basis for Belgian legislation on UCITS is ...
Circular to licensed corporations Data risk management
ID 22585
In view of the findings from a recent thematic review of data risk management practices of licensed corporations (LCs) (please see the enclosed findings report for more information), the Securities and Futures Commission has published a circular in this context. Therein, the Commission describes its expectations as regards such practices, including expectations pertaining to data collection, classification, usage, retention, transfer, and disposal. Before outlining ...
Circular to licensed corporations Management of operational and remote booking ...
ID 22574
In view of the findings from a recent thematic review of risk management practices of licensed corporations (LCs) as regards operational and remote booking risks arising from trading activities (please see the enclosed findings report for more information), the Securities and Futures Commission has published a circular in this context. Therein, **the Commission describes its expectations as regards such practices, including expectations pertaining to ...
Circular to intermediaries, responsible officers and licensed representatives ...
ID 22482
The Securities and Futures Commission of Hong Kong, SFC, has issued a new circular addressed at intermediaries, responsible officers, and licensed representatives. Therein, the Commission informs that it will waive the annual licensing fee of intermediaries and licensed individuals for the time period April 1, 2023 to March 31, 2024. The waiver is valid for the licensing fee only and does NOT cover any ...