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  4. CSSF issues new AML/CFT FAQ on asset side due diligence obligations

CSSF issues new AML/CFT FAQ on asset side due diligence obligations

24 Dec 2024
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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.

CSSF’s FAQ’s can be found here.

Authors
Vanessa Molloy Harneys front portrait image on a grey background
Vanessa Molloy
Partner | Funds & Regulatory | Luxembourg