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CSSF Regulation 12-02 and CSSF Circular 13/556 - 23/01/2013


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New requirements about fight against money laundering and terrorist financing

The CSSF Regulation 12/02 of 14 December 2012 on the fight against money laundering and terrorist financing (the “Regulation” hereafter) has been published on 9th January 2013. This new regulation reinforces and completes the applicable regulatory framework in Luxembourg with regards to the following topics:

  • Risk-based approach
  • Customer due diligence
  • Internal organisation
  • Cooperation with authorities
  • Review by the Réviseur d’entreprises agréé

CSSF Regulation 12/02 intends to address the remarks noted in the third mutual evaluation report of Luxembourg, adopted by the FATF in February 2010.

CSSF Regulation 12/02 gives a formal and legally binding nature to existing professional guidance set out previously by CSSF circulars.

  1. Scope and implementation provisions
  2. Update on professional obligations
  3. Control by the Réviseur d’entreprises agréé

Discover the full text of the newsletter in the PDF attached above.

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Contacts

Name:
Michael JJ Martin
Company:
Deloitte Luxembourg
Job Title:
Partner - Forensic & Dispute Services
Phone:
+352 451 452 449
Email
michamartin@deloitte.lu

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