Circular CSSF 25/898 is a CSSF circular, published 31 October 2025 and updated 3 November 2025. Subject: Update of Circular CSSF 07/325 on Provisions relating to credit institutions and investment firms of EU origin established in Luxembourg by way of branches or exercising activities in Luxembourg by way of free provision of services, as amended by Circulars CSSF 21/765 and CSSF 22/827.
\nLegal basis: Law of 30 May 2018 on markets in financial instruments.
\nRelevant for: Credit institutions, Investment firms.
\nKeywords: eDesk, European passport.
\nCircular CSSF 25/898 Update of Circular CSSF 07/325 on the provisions relating to credit institutions and investment firms of EU origin established in Luxembourg by way of branches or exercising activities in Luxembourg by way of free provision of services (as amended by Circulars CSSF 21/765 and CSSF 22/827)
\nCircular CSSF 25/898 Update of the Circular CSSF 07/325 on the provisions relating to credit institutions and investment firms of EU origin established in Luxembourg by way of branches or exercising activities in Luxembourg by way of free provision of services (as amended by Circulars CSSF 21/765 and CSSF 22/827) To all credit institutions and investment firms
\nLuxembourg, 31 October 2025 Ladies and Gentlemen,
\nThe purpose of this circular is to amend Circular CSSF 07/325 on provisions relating to credit institutions and investment firms of EU origin established in Luxembourg by way of branches or exercising activities in Luxembourg by way of free provision of services with the aim to further align the content of the self-assessment questionnaire (SAQ) with supervisory points of focus. As a result, the following thematic module has been included in the revised SAQ: •
\nUCI administration
\nSome existing modules have been updated either to better align with supervisory objectives or to request information in a more proportionate manner, according to the nature of banks’ activities. The list of SAQ modules and their descriptions have been removed from the circular and are now available on the CSSF website (www.cssf.lu/en/prudential-reporting-credit-institutions). Please refer to Annex I for the details of the amendments to Circular CSSF 07/325 (as amended by Circulars CSSF 21/765, CSSF 22/827 and 25/898).
\nAnnex I: Circular CSSF 07/325 as amended by Circulars CSSF 21/765, CSSF 22/827 and 25/898
\nCircular CSSF 07/325 as amended by Circulars CSSF 21/765, CSSF 22/827 and CSSF 25/898
\nProvisions relating to credit institutions and investment firms of EU origin established in Luxembourg by way of branches or exercising activities in Luxembourg by way of free provision of services
\nIn case of discrepancies between the French and the English texts, the French text shall prevail.
\nCircular CSSF 07/325 as amended by Circulars CSSF 21/765, CSSF 22/827 and CSSF 25/898
\nProvisions relating to credit institutions and investment firms of EU origin established in Luxembourg by way of branches or exercising activities in Luxembourg by way of free provision of services To all credit institutions and investment firms
\nLuxembourg, 19 November 2007 Ladies and Gentlemen, The purpose of this circular is to provide further details on the principle of freedom of establishment by way of branches and free provision of services for credit institutions and investment firms whose head office is in another Member State. The circular also provides additional information on the role of the CSSF as host authority and points out to credit institutions and investment firms whose head office is in another Member State the provisions that their Luxembourg branches must comply with under Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments (“MiFID II Directive”), which was transposed into Luxembourg law through the Law of 30 May 2018 on markets in financial instruments (“MiFID II Law”). Most of the requirements concern both credit institutions and investment firms. Nevertheless, in certain cases, the legislator purposely differentiated between both statuses.
\nCIRCULAR CSSF 07/325 as amended by Circulars CSSF 21/765, CSSF 22/827 and CSSF 25/898
\nTABLE OF CONTENTS I.
\nScope .......................................................................................................................... 4
\nII.
\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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