Commission de Surveillance du Secteur Financier CSSF
Who they are
The Commission de Surveillance du Secteur Financier (CSSF) is the regulator of the financial industry in Luxembourg, except for the insurance industry. CSSF is the regulatory authority for banks, investment funds, investment firms, market operators, payment institutions, and virtual asset service providers because CSSF is an independent regulatory authority, with supervision performed by the Ministry of Finance of Luxembourg. Commission de Surveillance du Secteur Financier (CSSF) is one of the reasons that have made Luxembourg one of the biggest financial centers in the world due to the transparency and stability of the country as well as the confidence of its people in CSSF services.
What they do
The CSSF ensures that the financial system of Luxembourg is safe and sound through the process of licensing, auditing, and regulating compliance among all credit institutions, investment firms, and investment funds that have been authorized to operate. As the prudential regulator, CSSF monitors the liquidity, risk management, and capital requirements of all the market players in order to prevent the occurrence of systemic risk and protect investors' money. The CSSF is the body that issues legally binding circulars, conducts on-site and off-site inspections, and applies administrative sanctions for violating the rules, such as imposing fines and revoking licenses. Apart from regulating the behavior of the market players, the CSSF acts as the key body for protecting consumers.
Key laws & regulations issued
- Circular Circular CSSF 25/879 (EBA Travel Rule Guidelines under Regulation (EU) 2023/1113) 2025
- Circular Circular CSSF 25/882 on requirements on the use of ICT third-party services for financial entities subject to DORA 2025
- Circular Circular CSSF 25/893 on the reporting of major ICT-related incidents and significant cyber threats 2025
- Regulation Regulation (EU) 2023/1113 of the European Parliament and of the Council of 31 May 2023 on information accompanying transfers of funds and certain crypto-assets 2023
- Regulation Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets (MiCAR) 2023
- Circular CSSF Circular 22/806 on outsourcing arrangements 2022
- Act Law of 30 May 2018 on markets in financial instruments (consolidated version) 2018
- Circular Circular CSSF 17/650 on the application of the AML/CFT law and the Grand-ducal Regulation of 1 February 2010 2017
- Circular Circular CSSF 15/614 on documents to be submitted to the CSSF after the closure of the financial year (payment and e-money institutions), as amended by Circular CSSF 26/906 2015
- Act Law of 12 July 2013 on alternative investment fund managers (consolidated version) 2013
- Circular Circular CSSF 12/552 on central administration, internal governance and risk management 2012
- Regulation CSSF Regulation No 12-02 of 14 December 2012 (AML/CFT regulation, consolidated; amended by CSSF Regulation No 20-05 of 14 August 2020) 2012
- Regulation Grand-ducal Regulation of 1 February 2010 providing details on certain provisions of the amended Law of 12 November 2004 on AML/CFT 2010
- Act Law of 17 December 2010 on undertakings for collective investment 2010
- Act Law of 10 November 2009 on payment services 2009
- Act Law of 11 January 2008 on transparency requirements for issuers (consolidated version, amended up to the Law of 3 July 2025) 2008
- Act Law of 12 November 2004 on the fight against money laundering and terrorist financing 2004
- Act Law of 23 December 1998 establishing a financial sector supervisory commission (Commission de surveillance du secteur financier) 1998
- Act Law of 5 April 1993 on the financial sector 1993
Enforcement by this regulator
The latest 10 of 29 — see all 29 on the Enforcement tab.
| Date | Entity | Action | Penalty | Source |
|---|---|---|---|---|
| 21 Aug 2026 | BigRep SE (issuer of securities (home Member State Luxembourg)) | Monetary Penalty | €20,000≈ US$23,398 | official |
| 21 Aug 2026 | SMG Hospitality SE (issuer of securities (home Member State Luxembourg)) | Monetary Penalty | €20,000≈ US$23,398 | official |
| 21 Aug 2026 | Corestate Capital Holding S.A. (issuer of securities (home Member State Luxembourg)) | Monetary Penalty | €20,000≈ US$23,398 | official |
| 21 Aug 2026 | Gaz Capital S.A. (issuer of securities (home Member State Luxembourg)) | Monetary Penalty | €10,000≈ US$11,699 | official |
| 21 Aug 2026 | KSG Agro S.A. (issuer of securities (home Member State Luxembourg)) | Monetary Penalty | €20,000≈ US$23,398 | official |
| 21 Jul 2026 | Transnet Soc Ltd (issuer of securities (home Member State Luxembourg)) | Monetary Penalty | €15,000 | official |
| 17 Jul 2026 | CF Fund Services (specialised professional of the financial sector (transfer agent activity)) | Formal Reprimand | — | official |
| 9 Jul 2026 | Investment fund manager (name not published; referred to as "the Manager") (investment fund manager (also authorised as AIFM)) | Monetary Penalty | €71,500≈ US$81,760 | official |
| 6 Jul 2026 | Opexia PSF S.A. (support professional of the financial sector) | Monetary Penalty | €14,000 | official |
| 17 Apr 2026 | Registered alternative investment fund manager (name not published) – reporting breach (registered alternative investment fund manager) | Monetary Penalty | €13,500≈ US$15,926 | official |
Deadlines owned by this regulator
| Due | Filing | Frequency | Industry | Source |
|---|---|---|---|---|
| 30 Nov 2026 | CSSF regulatory reportingCSSF’s Reporting Regulation Frequency is a mandatory repeating cycle that is carried out monthly, quarterly, half-yearly, or yearly depending on the type of licensing of an organization and size of it | Monthly | Banking | official |
Latest news
No news tagged to this regulator yet.
Related regulators
Others in Luxembourg supervising overlapping sectors.