Today, the CSSF published three Circulars which will fundamentally change the year-end reporting of IFMs in order to standardise the supervision of IFMs, assess compliance with requirements of laws and regulations, and enable the CSSF to perform a risk scoring for each IFM. This will include a new CSSFAML/CFT external report, and a new self-assessment questionnaire (SAQ) on the CSSF eDesk. The statutory auditor will be required to review the SAQ and to produce a new separate report.

The new requirements will be applicable as at year end 31 December 2021.

Having assisted the CSSF with the development of the SAQ, ONE consult is in a unique position to help you navigate the new requirements, design a technology-based process and assist with resource challenges.