{"id":"sanctions/cssf-2025-07-23-jtc","title":"CSSF fine on JTC, 23 July 2025","type":"sanction","date":"2025-07-23","authority":"CSSF","amount":"102000","html":"<p>On 23 July 2025 the Commission de Surveillance du Secteur Financier (CSSF) imposed an administrative fine of EUR 102,000 on JTC (Specialised PFS). The decision was published on 9 January 2026. The CSSF gives the ground as non-compliance with the professional obligations concerning the depositary function.</p>\n<p>Legal basis: <a href=\"/lhoft?page=laws%2F2013-07-12-n1\" class=\"wikiLink\" data-target=\"laws/2013-07-12-n1\">Law of 12 July 2013 on alternative investment fund managers</a>.</p>\n<p><a href=\"https://www.cssf.lu/en/Document/administrative-sanction-of-23-july-2025/\" target=\"_blank\" rel=\"noreferrer\">Decision page</a>, <a href=\"https://www.cssf.lu/wp-content/uploads/S_17_PSF_SP_JTC-Luxembourg-S.A._090126_en.pdf\" target=\"_blank\" rel=\"noreferrer\">decision PDF</a>. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent.</p>"}