Presentation of the Luxembourg regulatory framework applicable to support PFS and specialised PFS

Formation inter et intra-entreprise

À qui s'adresse la formation?

For Luxembourg support and specialised PFS only:

  • Authorised managers
  • Board members
  • Persons responsible for the internal control functions

Niveau atteint

Débutant

Durée

3,00 heure(s)

Langues(s) de prestation

EN

Prochaine session

Objectifs

The Luxembourg Professionals of the Financial Sector (PFS) play a key role in Luxembourg financial area. Luxembourg counts more than 170 support and specialised PFS. These figures have rapidly grown over the last decade and have supported the growth of the Luxembourg financial sector. Directly supervised by the CSSF, these professionals are subject to specific corporate and prudential rules and obligations, comparable to those applicable to banks and investment firms.

This training gives learners an overview of the Luxembourg regulatory landscape applicable to support and specialised PFS, including the main obligations and rules to which they are bound.

This training focuses on:

  • explaining the key characteristics of support PFS and specialised PFS and the main differences between these statuses
  • describing the main laws and CSSF circulars applicable to support and specialised PFS
  • detailing the main prudential requirements applicable to support and specialised PFS
  • describing the internal governance requirements and organisation framework (internal control functions, allocation of tasks between the Board and the authorised management, etc.)
  • providing an overview of the AML requirements applicable to both support PFS and specialised PFS
  • presenting the market practices needed to comply with the regulator expectations

By the end of this training, participants will be able to:

  • understand the specificities of the support and specialised PFS
  • understand how the CSSF exercises its prudential supervision
  • identify the regulation applicable to support and specialised PFS and the main impacts on their organisation
  • understand the internal governance mechanisms
  • know the Luxembourg standards and market practices

Contenu

Support and specialised PFS statuses

  • Regulatory framework applicable to support PFS and/or to specialised PFS
  • Main prudential requirements
  • Applicable requirements in terms of internal governance and internal control framework
  • Key AML requirements applicable to support and specialised PFS
  • Outcomes of the CSSF on-site visits and discussion on the regulator's expectations

Certificat, diplôme

Certificat de présence

Informations supplémentaires

This training is coordinated by Nicolas Grillot, Partner, and Isabelle Melcion-Richard, Managing Director at PwC luxembourg.

Nicolas has over 18 years of experience in financial institutions, Professionals of the Financial Sector (“PSF”), and management companies' audit. He was able to acquire a strong technical knowledge in various topics, which enabled him to provide high quality services to his clients. Moreover, he used to deal with particular accounting frameworks thanks to his involvement in the audit of European institutions.

Nicolas also has strong communication and managerial skills, which were developed in major assignments he has been involved in previously.

Nicolas is also leading the PFS practice within our firm and also represents our interests at the IRE Commission for PFS.

Isabelle is a member of the “Association Luxembourgeoise des Compliance Officers” (ALCO) and of the “Association Luxembourgeoise des Juristes de Banques” (ALJB).

She has more than 23 years of experience in the financial sector in Luxembourg and her areas of expertise include: banks, investment firms, specialised PFS, support PFS, Electronic Money (“EMI”) and Payment Institutions (“PI”), Luxembourg banking regulations, internal governance requirements, licencing and notifications.

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