Further to the long-awaited outcome of the Brexit negotiations on 24 December 2020, the Luxembourg financial supervisory authority issued a press release relating to the publication of the new CSSF Regulation.
Further to the long-awaited outcome of the Brexit negotiations on 24 December 2020, the Luxembourg financial supervisory authority – the Commission de Surveillance du Secteur Financier – issued a press release relating to the publication of the new CSSF Regulation n°20-09 dated 14 December 2020 amending the CSSF Regulation n°20-02 dated 29 June 2020 on the equivalence of certain third countries with respect to supervision and authorisation rules for the purpose of providing investment services or performing investment activities and ancillary services by third-country firms.
Pursuant to the Press Release, the CSSF wants to draw the attention of the public on the implications of Regulation (EU) n° 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments (“MiFIR”) to UK firms that shall provide investment services or activities in the Grand Duchy of Luxembourg within the context of withdrawal of the United Kingdom from the European Union and considering the EU-UK trade and cooperation agreement to be entered into both parties with provisional effect as of 1 January 2021.
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