{"id":"laws/1993-04-05-n1","title":"Law of 5 April 1993 on the financial sector","type":"law","date":"1993-04-05","eli":"http://data.legilux.public.lu/eli/etat/leg/loi/1993/04/05/n1/jo","html":"<p>Loi du 5 avril 1993 relative au secteur financier. Consolidated text on <a href=\"https://legilux.public.lu/eli/etat/leg/loi/1993/04/05/n1/consolide/latest\" target=\"_blank\" rel=\"noreferrer\">Legilux</a>.</p>\n<p>The Chamber amended it through 8 bills in this legislature.</p>\n<h2>Amended by</h2>\n<ul>\n<li><a href=\"/lhoft?page=dossiers%2FPL8291\" class=\"wikiLink\" data-target=\"dossiers/PL8291\">PL8291 — Secteur financier</a>, became the law of 1 July 2024.</li>\n<li><a href=\"/lhoft?page=dossiers%2FPL8185\" class=\"wikiLink\" data-target=\"dossiers/PL8185\">PL8185 — Transfert de crédits</a>, became the law of 15 July 2024.</li>\n<li><a href=\"/lhoft?page=dossiers%2FPL8425\" class=\"wikiLink\" data-target=\"dossiers/PL8425\">PL8425 — Blockchain</a>, became the law of 20 December 2024.</li>\n<li><a href=\"/lhoft?page=dossiers%2FPL8427\" class=\"wikiLink\" data-target=\"dossiers/PL8427\">PL8427 — Résolution bancaire</a>, became the law of 20 December 2024.</li>\n<li><a href=\"/lhoft?page=dossiers%2FPL8387\" class=\"wikiLink\" data-target=\"dossiers/PL8387\">PL8387 — Réglementation cryptoactifs</a>, became the law of 6 February 2025.</li>\n<li><a href=\"/lhoft?page=dossiers%2FPL8498\" class=\"wikiLink\" data-target=\"dossiers/PL8498\">PL8498 — Listing Package</a>, became the law of 3 July 2025.</li>\n<li><a href=\"/lhoft?page=dossiers%2FPL8567\" class=\"wikiLink\" data-target=\"dossiers/PL8567\">PL8567 — Directive ESAP</a>, became the law of 27 March 2026.</li>\n<li><a href=\"/lhoft?page=dossiers%2FPL8627\" class=\"wikiLink\" data-target=\"dossiers/PL8627\">PL8627</a>, became the law of 5 May 2026.</li>\n</ul>\n<h2>Circulars under this law</h2>\n<p>69 CSSF circulars, regulations, or FAQs cite it, newest first.</p>\n<ul>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-26-915\" class=\"wikiLink\" data-target=\"circulars/cssf-26-915\">Circular CSSF 26/915</a>, 27 August 2026.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-26-907\" class=\"wikiLink\" data-target=\"circulars/cssf-26-907\">Circular CSSF 26/907</a>, 18 February 2026.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-24-08\" class=\"wikiLink\" data-target=\"circulars/reg-24-08\">CSSF Regulation No 24-08 of 1 January 2026</a>, 1 January 2026.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-25-06\" class=\"wikiLink\" data-target=\"circulars/reg-25-06\">CSSF Regulation No 25-06 of 30 December 2025</a>, 30 December 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-25-05\" class=\"wikiLink\" data-target=\"circulars/reg-25-05\">CSSF Regulation No 25-05 of 1 December 2025</a>, 1 December 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-25-04\" class=\"wikiLink\" data-target=\"circulars/reg-25-04\">CSSF Regulation No 25-04 of 30 September 2025</a>, 30 September 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-25-895\" class=\"wikiLink\" data-target=\"circulars/cssf-25-895\">Circular CSSF 25/895</a>, 31 July 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-25-03\" class=\"wikiLink\" data-target=\"circulars/reg-25-03\">CSSF Regulation No 25-03 of 31 July 2025</a>, 31 July 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-25-02\" class=\"wikiLink\" data-target=\"circulars/reg-25-02\">CSSF Regulation No 25-02 of 30 June 2025</a>, 30 June 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-25-884\" class=\"wikiLink\" data-target=\"circulars/cssf-25-884\">Circular CSSF 25/884</a>, 14 April 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-25-881\" class=\"wikiLink\" data-target=\"circulars/cssf-25-881\">Circular CSSF 25/881</a>, 9 April 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-25-883\" class=\"wikiLink\" data-target=\"circulars/cssf-25-883\">Circular CSSF 25/883</a>, 9 April 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-25-01\" class=\"wikiLink\" data-target=\"circulars/reg-25-01\">CSSF Regulation No 25-01 of 31 March 2025</a>, 31 March 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-25-870\" class=\"wikiLink\" data-target=\"circulars/cssf-25-870\">Circular CSSF 25/870</a>, 9 January 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-23-05\" class=\"wikiLink\" data-target=\"circulars/reg-23-05\">CSSF Regulation No 23-05 of 1 January 2025</a>, 1 January 2025.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-24-09\" class=\"wikiLink\" data-target=\"circulars/reg-24-09\">CSSF Regulation No 24-09 of 30 December 2024</a>, 30 December 2024.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-24-06\" class=\"wikiLink\" data-target=\"circulars/reg-24-06\">CSSF Regulation No 24-06 of 30 September 2024</a>, 30 September 2024.</li>\n<li><a href=\"/lhoft?page=circulars%2Ffaq-faq-regarding-cssf-regulation-no-14-02-determination-of-distributable-amounts-of\" class=\"wikiLink\" data-target=\"circulars/faq-faq-regarding-cssf-regulation-no-14-02-determination-of-distributable-amounts-of\">FAQ regarding CSSF Regulation No 14-02 – Determination of distributable amounts of credit institutions using fair value in the statutory accounts</a>, 24 September 2024.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-24-05\" class=\"wikiLink\" data-target=\"circulars/reg-24-05\">CSSF Regulation No 24-05 of 28 June 2024</a>, 28 June 2024.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-24-858\" class=\"wikiLink\" data-target=\"circulars/cssf-24-858\">Circular CSSF 24/858</a>, 27 June 2024.</li>\n<li><a href=\"/lhoft?page=circulars%2Ffaq-faq-related-to-the-provisions-of-circular-cssf-22-824-concerning-the-application\" class=\"wikiLink\" data-target=\"circulars/faq-faq-related-to-the-provisions-of-circular-cssf-22-824-concerning-the-application\">FAQ related to the provisions of Circular CSSF 22/824 concerning the application of the Guidelines of the European Banking Authority on Loan Origination and Monitoring (EBA/GL/2020/06)</a>, 29 March 2024.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-24-03\" class=\"wikiLink\" data-target=\"circulars/reg-24-03\">CSSF Regulation No 24-03 of 28 March 2024</a>, 28 March 2024.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-24-849\" class=\"wikiLink\" data-target=\"circulars/cssf-24-849\">Circular CSSF 24/849</a>, 15 January 2024.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-24-847\" class=\"wikiLink\" data-target=\"circulars/cssf-24-847\">Circular CSSF 24/847</a>, 5 January 2024.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-22-07\" class=\"wikiLink\" data-target=\"circulars/reg-22-07\">CSSF Regulation No 22-07 of 1 January 2024</a>, 1 January 2024.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-24-848\" class=\"wikiLink\" data-target=\"circulars/cssf-24-848\">Circular CSSF 24/848</a>, 29 December 2023.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-23-06\" class=\"wikiLink\" data-target=\"circulars/reg-23-06\">CSSF Regulation No 23-06 of 29 December 2023</a>, 29 December 2023.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-23-841\" class=\"wikiLink\" data-target=\"circulars/cssf-23-841\">Circular CSSF 23/841</a>, 13 October 2023.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-23-04\" class=\"wikiLink\" data-target=\"circulars/reg-23-04\">CSSF Regulation No 23-04 of 30 September 2023</a>, 30 September 2023.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-18-03\" class=\"wikiLink\" data-target=\"circulars/reg-18-03\">CSSF Regulation No 18-03 of 12 July 2023</a>, 12 July 2023.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-23-03\" class=\"wikiLink\" data-target=\"circulars/reg-23-03\">CSSF Regulation No 23-03 of 12 July 2023</a>, 12 July 2023.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-23-02\" class=\"wikiLink\" data-target=\"circulars/reg-23-02\">CSSF Regulation No 23-02 of 30 June 2023</a>, 30 June 2023.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-23-835\" class=\"wikiLink\" data-target=\"circulars/cssf-23-835\">Circular CSSF 23/835</a>, 16 May 2023.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-23-01\" class=\"wikiLink\" data-target=\"circulars/reg-23-01\">CSSF Regulation No 23-01 of 31 March 2023</a>, 31 March 2023.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-22-08\" class=\"wikiLink\" data-target=\"circulars/reg-22-08\">CSSF Regulation No 22-08 of 2 January 2023</a>, 2 January 2023.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-22-826\" class=\"wikiLink\" data-target=\"circulars/cssf-22-826\">Circular CSSF 22/826</a>, 23 December 2022.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-22-824\" class=\"wikiLink\" data-target=\"circulars/cssf-22-824\">Circular CSSF 22/824</a>, 22 December 2022.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-22-06\" class=\"wikiLink\" data-target=\"circulars/reg-22-06\">CSSF Regulation No 22-06 of 6 October 2022</a>, 6 October 2022.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-22-04\" class=\"wikiLink\" data-target=\"circulars/reg-22-04\">CSSF Regulation No 22-04 of 20 July 2022</a>, 20 July 2022.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-22-03\" class=\"wikiLink\" data-target=\"circulars/reg-22-03\">CSSF Regulation No 22-03 of 4 July 2022</a>, 4 July 2022.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-22-816\" class=\"wikiLink\" data-target=\"circulars/cssf-22-816\">Circular CSSF 22/816</a>, 24 June 2022.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-22-814\" class=\"wikiLink\" data-target=\"circulars/cssf-22-814\">Circular CSSF 22/814</a>, 25 May 2022.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-22-806\" class=\"wikiLink\" data-target=\"circulars/cssf-22-806\">Circular CSSF 22/806</a>, 22 April 2022.</li>\n<li><a href=\"/lhoft?page=circulars%2Ffaq-cssf-faq-circular-cssf-22-806-on-outsourcing-arrangements\" class=\"wikiLink\" data-target=\"circulars/faq-cssf-faq-circular-cssf-22-806-on-outsourcing-arrangements\">CSSF FAQ – Circular CSSF 22/806 on outsourcing arrangements</a>, 22 April 2022.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-22-02\" class=\"wikiLink\" data-target=\"circulars/reg-22-02\">CSSF Regulation No 22-02 of 5 April 2022</a>, 5 April 2022.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-19-02\" class=\"wikiLink\" data-target=\"circulars/reg-19-02\">CSSF Regulation No 19-02 of 27 January 2022</a>, 27 January 2022.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-21-05\" class=\"wikiLink\" data-target=\"circulars/reg-21-05\">CSSF Regulation No 21-05 of 27 December 2021</a>, 27 December 2021.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-21-784\" class=\"wikiLink\" data-target=\"circulars/cssf-21-784\">Circular CSSF 21/784</a>, 1 October 2021.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-21-03\" class=\"wikiLink\" data-target=\"circulars/reg-21-03\">CSSF Regulation No 21-03 of 1 October 2021</a>, 1 October 2021.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-21-02\" class=\"wikiLink\" data-target=\"circulars/reg-21-02\">CSSF Regulation No 21-02 of 2 July 2021</a>, 2 July 2021.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-21-773\" class=\"wikiLink\" data-target=\"circulars/cssf-21-773\">Circular CSSF 21/773</a>, 21 June 2021.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-21-01\" class=\"wikiLink\" data-target=\"circulars/reg-21-01\">CSSF Regulation No 21-01 of 6 April 2021</a>, 6 April 2021.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-20-11\" class=\"wikiLink\" data-target=\"circulars/reg-20-11\">CSSF Regulation No 20-11 of 29 December 2020</a>, 29 December 2020.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-20-758\" class=\"wikiLink\" data-target=\"circulars/cssf-20-758\">Circular CSSF 20/758</a>, 7 December 2020.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-20-06\" class=\"wikiLink\" data-target=\"circulars/reg-20-06\">CSSF Regulation No 20-06 of 7 October 2020</a>, 7 October 2020.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-20-750\" class=\"wikiLink\" data-target=\"circulars/cssf-20-750\">Circular CSSF 20/750</a>, 25 August 2020.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-20-03\" class=\"wikiLink\" data-target=\"circulars/reg-20-03\">CSSF Regulation No 20-03 of 3 July 2020</a>, 3 July 2020.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-19-716\" class=\"wikiLink\" data-target=\"circulars/cssf-19-716\">Circular CSSF 19/716</a>, 1 July 2020.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-20-743\" class=\"wikiLink\" data-target=\"circulars/cssf-20-743\">Circular CSSF 20/743</a>, 1 July 2020.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-20-02\" class=\"wikiLink\" data-target=\"circulars/reg-20-02\">CSSF Regulation No 20-02 of 1 July 2020</a>, 1 July 2020.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-20-01\" class=\"wikiLink\" data-target=\"circulars/reg-20-01\">CSSF Regulation No 20-01 of 15 April 2020</a>, 15 April 2020.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-19-727\" class=\"wikiLink\" data-target=\"circulars/cssf-19-727\">Circular CSSF 19/727</a>, 26 July 2019.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-19-05\" class=\"wikiLink\" data-target=\"circulars/reg-19-05\">CSSF Regulation No 19-05 of 26 June 2019</a>, 26 June 2019.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-19-06\" class=\"wikiLink\" data-target=\"circulars/reg-19-06\">CSSF Regulation No 19-06 of 26 June 2019</a>, 26 June 2019.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-18-707\" class=\"wikiLink\" data-target=\"circulars/cssf-18-707\">Circular CSSF 18/707</a>, 19 December 2018.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-18-697\" class=\"wikiLink\" data-target=\"circulars/cssf-18-697\">Circular CSSF 18/697</a>, 23 August 2018.</li>\n<li><a href=\"/lhoft?page=circulars%2Freg-18-03-2\" class=\"wikiLink\" data-target=\"circulars/reg-18-03-2\">CSSF Regulation No 18-03 of 13 June 2018</a>, 13 June 2018.</li>\n<li><a href=\"/lhoft?page=circulars%2Fcssf-18-682\" class=\"wikiLink\" data-target=\"circulars/cssf-18-682\">Circular CSSF 18/682</a>, 5 February 2018.</li>\n<li><a href=\"/lhoft?page=circulars%2Ffaq-faq-alternative-investment-fund-managers\" class=\"wikiLink\" data-target=\"circulars/faq-faq-alternative-investment-fund-managers\">FAQ concerning the Luxembourg Law of 12 July 2013 on alternative investment fund managers</a>, 18 June 2013.</li>\n</ul>\n<h2>Enforcement under this law</h2>\n<p>14 administrative decisions published by the regulators cite it.</p>\n<ul>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2023-11-06-anon-a-support-pfs\" class=\"wikiLink\" data-target=\"sanctions/cssf-2023-11-06-anon-a-support-pfs\">CSSF fine on a support PFS, 6 November 2023</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2024-01-11-anon-a-specialised-pfs\" class=\"wikiLink\" data-target=\"sanctions/cssf-2024-01-11-anon-a-specialised-pfs\">CSSF fine on a specialised PFS, 11 January 2024</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2024-02-14-system-solutions-luxembourg-s-a\" class=\"wikiLink\" data-target=\"sanctions/cssf-2024-02-14-system-solutions-luxembourg-s-a\">CSSF administrative decision on System Solutions Luxembourg S.A, 14 February 2024</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2024-02-19-talabot-investments-llp\" class=\"wikiLink\" data-target=\"sanctions/cssf-2024-02-19-talabot-investments-llp\">CSSF fine on TALABOT INVESTMENTS LLP, 19 February 2024</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2024-03-07-baumann-partners-s-a\" class=\"wikiLink\" data-target=\"sanctions/cssf-2024-03-07-baumann-partners-s-a\">CSSF fine on Baumann &#x26; Partners S.A, 7 March 2024</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2024-05-14-anon-a-support-pfs\" class=\"wikiLink\" data-target=\"sanctions/cssf-2024-05-14-anon-a-support-pfs\">CSSF fine on a support PFS, 14 May 2024</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2024-10-02-the-investment-firm-2-pm-europe-s-a\" class=\"wikiLink\" data-target=\"sanctions/cssf-2024-10-02-the-investment-firm-2-pm-europe-s-a\">CSSF fine on the investment firm 2 PM Europe S.A, 2 October 2024</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2024-11-18-andreas-capital-s-a\" class=\"wikiLink\" data-target=\"sanctions/cssf-2024-11-18-andreas-capital-s-a\">CSSF fine on Andreas Capital S.A, 18 November 2024</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2025-05-15-collaboration-betters-the-world-psf-s-r\" class=\"wikiLink\" data-target=\"sanctions/cssf-2025-05-15-collaboration-betters-the-world-psf-s-r\">CSSF fine on Collaboration Betters The World PSF S.à r.l, 15 May 2025</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2025-06-10-anon-a-specialised-pfs\" class=\"wikiLink\" data-target=\"sanctions/cssf-2025-06-10-anon-a-specialised-pfs\">CSSF fine on a specialised PFS, 10 June 2025</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2025-07-23-geneve-invest\" class=\"wikiLink\" data-target=\"sanctions/cssf-2025-07-23-geneve-invest\">CSSF fine on Genève Invest, 23 July 2025</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2025-07-28-anon-a-bank\" class=\"wikiLink\" data-target=\"sanctions/cssf-2025-07-28-anon-a-bank\">CSSF reprimand on a bank, 28 July 2025</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2025-10-08-anon-an-investment-firm\" class=\"wikiLink\" data-target=\"sanctions/cssf-2025-10-08-anon-an-investment-firm\">CSSF fine on an investment firm, 8 October 2025</a>.</li>\n<li><a href=\"/lhoft?page=sanctions%2Fcssf-2025-10-15-mirabaud-cie\" class=\"wikiLink\" data-target=\"sanctions/cssf-2025-10-15-mirabaud-cie\">CSSF fine on Mirabaud &#x26; Cie, 15 October 2025</a>.</li>\n</ul>"}