- 29/02/2024 CSSF circular 24/854 has been published
- 31/07/2024 31/12/2023 SRRC (formalised with the new template) shall be transmitted to the CSSF
The CSSF Circular 24/854 introduces an eDesk template of Summary Report of the RC (SRRC) that must be used for the financial years ending on or after 31 December 2023.
The updated SRRC template incorporates current market practices and highlights essential data points critical for the CSSF’s oversight in combating money laundering and terrorism financing.
Scope
CSSF Circular 24/854 applies to:
- Luxembourg Investment Fund Managers (IFMs);
- Luxembourg Investment Funds supervised by the CSSF for AML/CFT purposes.
This CSSF Circular is not applicable to Luxembourg Investment Funds which have designated a Luxembourg management company that submits the SRRC.
In practice
1. How to submit the SRRC?
3. When shall the SRRC be submitted?
Annually, within 5 months after completion of the annual accounts of the supervised entity.
For the closing end of financial year on 31 December 2023, with a two-month extension is granted.
Useful Resources
Discover our other publications:
Roadmap: building your GRC framework step by step
An effective GRC framework is built progressively, from the diagnosis of the existing state to consolidation, by adapting each step to the maturity, size and priorities of the organisation.
GRC reporting: giving the board an overview
A useful GRC reporting consolidates the work of control functions into a readable view allowing the board to identify developments, areas of concern and decisions to be made.
Data, evidence and traceability: the foundation of a credible system
A credible monitoring system relies on reliable data, structured evidence and an audit trail making it possible to reconstruct decisions and actions throughout the activity.