Circular CSSF 24/853 is a CSSF circular, published 30 January 2024 and updated 6 February 2024. Subject: Long Form Report – Practical rules concerning the self-assessment questionnaire to be submitted by investment firms – Mission and related reports of the réviseurs d’entreprises agréés (approved statutory auditors).
\nRelevant for: Investment firms.
\nKeywords: Approved statutory auditor (réviseur d'entreprises agréé), Cabinet de révision agréé, Central administration, eDesk, Internal governance, Risk management.
\nAmended by Circular CSSF 25/870, Circular CSSF 26/904.
\nLONG FORM REPORT – Practical rules concerning the self-assessment questionnaire to be submitted by investment firms Mission and related reports of the réviseurs d’entreprises agréés (approved statutory auditors)
\nLONG FORM REPORT – Practical rules concerning the selfassessment questionnaire to be submitted by investment firms Mission and related reports of the réviseurs d’entreprises agréés (approved statutory auditors) To investment firms and Luxembourg branches of non-EU investment firms
\nLuxembourg, 30 January 2024 Ladies and Gentlemen, The purpose of this circular is to introduce the key aspects of the revised long form report (the revised LFR) that applies to all investment firms as from the financial year ending on 31 December 2024. The revision of the long form report is the result of a thorough reconsideration of its objective, scope and content in order to realign it with the supervisory and prudential points of focus of the CSSF. Accordingly, the revised LFR has been designed with a view to allowing the CSSF to obtain relevant information as regards investment firms’ compliance with key regulatory provisions. In this view, the revised LFR allows the CSSF to gather sufficient information all the while further facilitating the implementation of a risk-based approach to supervision. In the review process, due consideration has been given to the principle of proportionality, as investment firms will only be required to provide information that is both relevant against the background of their business model and incremental compared to information already provided by them to the CSSF via other reporting obligations and channels, thus reducing redundancies between existing reports. With respect to its form and in line with the CSSF’s digital strategy (CSSF 4.0), the revised LFR turns digital to allow a more efficient reporting processing and ease data analysis. Its completion and submission will be required through the dedicated channel via the online portal of the CSSF.
\nTable of Contents 1.
\nScope of application .................................................................................................... 4
\nOverview of the revised LFR ......................................................................................... 4
\nThe self-assessment questionnaire (SAQ) ...................................................................... 5
\nThe mission of the REA ................................................................................................ 6
\n4.1. The AUP report(s) .................................................................................................... 6 4.2. The MiFID report...................................................................................................... 7 4.3. The AML/CFT report ................................................................................................. 7 5.
\nSubmission procedures.............................................................................................. 11
\n5.1. SAQ ..................................................................................................................... 11 5.2. Reports prepared by the REA................................................................................... 11 5.3. Practical rules ........................................................................................................ 11 6.
\nFinal provisions ........................................................................................................
\nThe text above is the opening of the document; the PDF carries the whole.
\nDocument page, PDF. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent. The French text prevails.
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