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On 13 December 2024, Luxembourg's Commission de Surveillance du Secteur Financier (CSSF) released a new FAQ addressing Anti-Money Laundering and Countering...
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On 13 December 2024, Luxembourg's Commission de Surveillance
du Secteur Financier (CSSF) released a
new FAQ addressing Anti-Money Laundering and Countering the
Financing of Terrorism (AML/CFT) on the
asset side due diligence requirements under CSSF Regulation No.
12-02.
The FAQ clarifies that for securities admitted to trading on a
regulated market, professionals can fulfil their due diligence
obligations by demonstrating, upon request, that the securities are
indeed admitted to trading on such a market. This streamlined
approach simplifies compliance for professionals handling these
types of securities.
Additionally, the FAQ provides guidance on the required
frequency of AML/CFT checks for other assets that are not admitted
to trading on a regulated market, offering further clarity for
entities navigating due diligence requirements.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
