PSF classification
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“Investment Companies”: PSF articles 24 to 24-9 of the Law of 5 April 1993, as amended
They are defined as companies providing investment services for third parties on a recurrent and professional basis, as well as carrying out investment activities, and primarily include:
- Investment advisors (95%*)
- Brokers of financial instruments (89%*)
- Stockbrokers (79%*)
- Wealth managers (69%*)
* % of investment companies with at least this accreditation
“Specialised PSF”: PSF articles 25 to 28-10 of the Law of 5 April 1993, as amended
"Other PSF"", renamed as is by the law of April 28, 2011, are defined entities that are active in the financial sector but without proposing any investment services. By default, in other words those that are neither "investment companies" nor "support PSF". They correspond to the PSF defined in articles 25 to 28-8 of the Law, primarily including:
- Registrars
- Company administrators
- Parties carrying out loan transactions
- Providers of company incorporation and management services
“Support PSF”: PSF articles 29-1 to 29-4 of the Law of 5 April 1993, as amended
Within this legal category, the CSSF has approved a designation for "support PSF", which stand out from other players by acting primarily as subcontractors for operational functions on behalf of banks or other financial sector professionals. They correspond to the PSF defined in articles 29-1 to 29-4 of the Law.
PSF minimum capital required by Law, depending on PSF licence obtained
Details available on the attached table on the minimum capital required.
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