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Compliance Training for Financial Institutions in Luxembourg: Staying Ahead of Regulatory Changes
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In an increasingly complex and fast-paced regulatory environment, financial institutions in Luxembourg are under pressure to adapt quickly to new requirements. From Sustainable Finance to MiFID II, AML, EMIR Refit, CSDR, and IT Regulatory, the list of topics requiring attention is long and demanding.
To help financial institutions navigate these changes, PwC offers a range of compliance training services designed specifically for banks and investment firms operating in Luxembourg. Our experienced team provides hands-on advice, licensing, and implementation support to ensure that your institution remains compliant with evolving regulations.
Governance Rules for Financial Institutions
As a bank or investment firm, you are subject to corporate governance rules outlined in various regulations and CSSF Circulars. Specifically, banks must adhere to the CSSF Circular 12/552 on central administration, corporate governance, and risk management, while investment firms are bound by the CSSF Circular 20/758.
Our compliance training services help institutions understand the regulatory framework and implement effective governance structures, including:
- Clear organisational structures
- Robust internal control frameworks
- Sound administrative and accounting procedures
We also assist with updating documentation on internal governance and reviewing decision-making processes to ensure transparency and accountability.
EMIR Refit: Understanding the Requirements
The European Market Infrastructure Regulation (EMIR) applies to all financial counterparties, including credit institutions, investment firms, and UCITS, as well as non-financial counterparties. EMIR introduces obligations such as:
- Reporting derivative contracts
- Assessing one’s own status with regard to clearing thresholds
- Applying risk mitigation measures for OTC derivatives
Our compliance training services help financial institutions understand the EMIR requirements and implement effective processes for:
- Reporting
- Collateral management
- Risk assessment
Sustainable Finance: Meeting New Disclosure Requirements
The Sustainable Finance Disclosure Regulation (SFDR) establishes a new regulatory framework for sustainable finance in the EU. The regulation applies to financial market participants, including credit institutions, investment firms, AIFMs, UCITS Management Companies, and insurance intermediaries.
Our compliance training services help financial institutions understand the SFDR requirements and implement effective processes for disclosing environmental, social, and governance (ESG) information to clients and stakeholders.
PSD2: Enhancing Payment Services in Luxembourg
The revised Payment Services Directive (PSD2) aims to enhance the regulatory framework for payment services within the European Economic Area (EEA). The directive introduces new reporting requirements for payment service providers, including:
- Reporting on major incidents
- Fraud prevention and detection
- Operational security measures
Our compliance training services help payment service providers understand the PSD2 requirements and implement effective processes for:
- Reporting
- Risk management
- Customer protection
By investing in our comprehensive compliance training programs, financial institutions in Luxembourg can ensure that they remain compliant with evolving regulations and maintain a strong reputation in the market.