Professional of the financial sector status (PSF)

"CETRELSecurities is acting both as administrative agent of the financial sector (art 29.2) and IT systems and communication networks operator (art 29.3) of the financial sector. This double status allows us to make our clients benefit from the full advantage of a leverage solution unique in Luxembourg."

CETRELSecurities has been granted the professional of the financial sector status (PSF) accreditation which is an official business status set out under the Luxembourg law. This status underlines our expertise as a professional in the Finance Sector and guarantees a secure and confidential processing of the data. The PSF accreditation is also a guarantee for commitment. Our services are based on formal Service Level Agreements: any discrepancy brings to a tailored action plan, and eventually penalties.

The Circular CSSF 06/240 regulates IT outsourcing and details regarding services provided under the status of support PSF; it concerns the banking authority subjects integration and proofing activities for financial information in ASP mode to the PSF status.

Download the Circular CSSF 06/240

The "Commission de Surveillance du Secteur Financier" (CSSF) took over the  responsibilities of the "Institut Monétaire Luxembourgeois" (IML) which became the Banque centrale du Luxembourg (BcL) on 1 June 1998, as well as the responsibilities of the former Commissariat aux Bourses. The commission is responsible for the prudential supervision of credit institutions, other professionals of the financial sector, undertakings for collective investment, pension funds, SICARs, securitisation vehicles issuing securities to the public on a continuous basis, stock exchanges, payment and securities settlement systems, operators of payment or securities settlement systems. It also supervises the securities markets.
The CSSF examines all applications made by undertakings or persons seeking to carry out a financial activity in the Grand Duchy of Luxembourg and requiring the authorisation of the Minister for Treasury and Budget.

The CSSF's prudential supervision of companies of the financial sector aims at the following:

• promoting a considered and prudent business policy in compliance with the regulatory requirements;
• protecting the financial stability of the supervised companies and of the financial sector as a whole;
• supervising the quality of the organisation and internal control systems;
• strengthening the quality of risk management.

It acts solely in the public interest, ensures that the laws and regulations on the financial sector are enforced and observed and that  international agreements and European Directives in the fields under its responsibility are implemented.

(sources: www.cssf.lu)

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CSSF