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Luxembourg’s Financial Institutions Face Complex Regulatory Landscape: A Compliance Checklist

Risk and complexity are inherent elements of the financial industry, posing significant challenges for institutions in Luxembourg. The constant evolution of regulatory requirements, new technologies, cyber threats, and changes in accounting and tax rules demand a robust risk management framework to ensure compliance and minimize potential risks.

To navigate this complex environment, financial institutions can rely on PwC’s comprehensive checklist, which covers a wide range of topics essential for effective risk management. Our experts can assist with:

  • Governance and Risk Management Frameworks: Including ICAAP/ILAAP
  • Financial and Non-Financial Risks
  • Recovery and Resolution Planning
  • Risk Modelling and Quantitative Analysis

In addition to these fundamental areas, PwC’s checklist also addresses emerging trends and regulatory requirements, including:

  • EU Banking Package
  • EU Capital Requirement Directive and Regulations (CRD IV/ CRR, soon to be replaced by CRD V/CRR II)
  • EU Bank Recovery and Resolution Directive (BRRD II)
  • EU Single Resolution Mechanism Resolution (SRMR II)

Luxembourg’s Risk Management Regulatory Framework

Luxembourg’s risk management regulatory framework has undergone significant changes in recent years, with a focus on promoting efficient, effective, and transparent risk management throughout the financial sector. PwC’s checklist provides guidance on the latest regulatory requirements, including:

  • Investment Firms Regulation and Directive Introducing New Prudential Framework (IFR & IFD)
  • Basel Publications and Guidelines Relating to Capital Adequacy (Basel III/IV), Banking Supervision, Various Risks, Transparency, and Disclosure
  • EBA Single Rulebook, Guidelines, and Technical Standards
  • CSSF Regulations and Circulars

PwC’s Comprehensive Checklist

Our comprehensive checklist is designed to support financial institutions in Luxembourg in their risk management efforts, providing guidance on:

  • Risk Management Governance Framework
  • Regulatory Reporting Solutions
  • Regulatory Services
  • Digital Solutions and Data Management
  • Risk Management Vendors Solutions

By Following PwC’s Compliance Checklist

By following PwC’s compliance checklist, financial institutions can ensure they are well-prepared to navigate the complex regulatory landscape in Luxembourg, minimizing potential risks and ensuring compliance with the latest requirements.