Luxembourg

Circular CSSF 22/806 is a regulatory document from the Commission de Surveillance du Secteur Financier (CSSF), which harmonizes standards for business processes and ICT outsourcing within Luxembourg's financial industry. It came into effect on April 22, 2022, and enacts the guidelines issued by the European Banking Authority into national regulations, requiring strict compliance with governance standards, risk management, and contract terms. To learn more about the circular, you can visit the site of the Commission de Surveillance du Secteur Financier.

The Luxembourg Register of Beneficial Owners (RBE) law provides for a compulsory, centralized database in which nearly all entities registered in Luxembourg must disclose their true natural owners who own 25% or more of shares, voting rights, or ownership. Operated by the Luxembourg Business Registers (LBR), the legislation compels corporations to disclose their true owners following the EU anti-money laundering (AML) directive. As of the privacy decisions and law amendments through 2025, unrestricted public access to the database is not allowed; access is limited to national authorities, AML-regulated professions, and entities with legitimate reasons to access the database. With strict enforcement mechanisms in place in 2026, non-compliance by the entity in filing or updating its beneficial ownership data will attract penalties including public notices, restricted certificates of incorporation, administrative penalties, and ultimately administrative dissolution or huge criminal penalties.

Loi du 17 décembre 2010 concernant les organismes de placement collectif forms the basis of legislation governing the Luxembourg investment funds industry. Enacted to incorporate into domestic law the EU’s UCITS IV Directive (Directive 2009/65/CE), this statute creates a dual system structure under close supervision of the Commission de Surveillance du Secteur Financier (CSSF). Part I of the Act covers highly regulated Undertakings for Collective Investment in Transferable Securities (UCITS) which have a defined set of diversification criteria, investing in liquid eligible assets only, and have cross-border distribution passports in the European Economic Area. On the contrary, part II of the Act allows for more flexible structures with wider range of investments, covering investments in real estate, commodity and alternative investment strategies. This act is available on the official legislative website of the Grand Duchy of Luxembourg – Legilux and the text gets regularly amended in order to comply with European Union directives and contains numerous modernizations following the Law of 3 March 2026 (AIFMD II and UCITS VI) and the prudential amendments of the Law of 5 May 2026

Law of 12 November 2004 relative to the fight against money laundering and the financing of terrorism is a bedrock of the national regulation for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) in Luxembourg. Initially formulated as an implementation tool of European Union framework directives in national law, this statute introduces strict preventive measures including Customer Due Diligence (CDD), transaction monitoring, and record-keeping for an extensive range of market entities that are under the supervision of bodies such as the Financial Sector Supervisory Commission (CSSF). Within the scope of this legislative body, "professionals" from different spheres such as the financial sector, crypto-assets, and the non-financial sector are obliged to report suspicious transactions automatically to the Luxembourg Financial Intelligence Unit (CRF) to avoid serious administrative, operational, or criminal sanctions. This live text can be accessed through the official legislative resource of the Grand Duchy of Luxembourg, Legilux, and it is continuously subject to legislative changes and is updated by means of the Law of 16 July 2026 and Law of 22 July 2026.

The Loi du 5 avril 1993 relative au secteur financier ("LSF") ("the 1993 Law"), which is sometimes known as the "1993 Law" or "LSF," is the structural foundation stone of the country's financial regulatory system, serving as the foundation that outlines all the licensing, operations, and control procedures in the financial sector. This law is introduced with the primary goal of transposing several important European Union banking and investment services directives into national legislation and giving the Commission de Surveillance du Secteur Financier ("CSSF") the mandate to strictly regulate credit institutions and a wide range of specialized Professionals of the Financial Sector ("PFS" / "PSF"). Apart from defining detailed criteria for the authorization of companies—including capital adequacy requirements, information about shareholders, and sound corporate governance principles it also specifically guarantees strict professional secrecy according to its Article 41. It is available online on the CSSF website or through the legislative gazette Legilux in its consolidated form. In addition, this regulation is constantly amended and updated to reflect the changing financial environment by taking into account new EU data and prudential requirements, including the recently passed 2026 amendments.