LUX CSSF issued circular 21/784 on periodic prudential reporting of investment firms.
Follows CSSF Nov. 2019 issued circular on transmission of reporting files, see #68104.
Also follows LUX CSSF Sep. 2021 update on entry in force of provisions, see #114895.
Reporting Handbook
Circular introduces Reporting Handbook for Investment Firms, bringing together, in one document, details on content of periodic prudential reporting of investment firms.
Comprises new IFR reporting and national reporting, as well as technical specifications.
The CSSF specifies that the IFR reporting tables must be transmitted via the new Investment firms reporting module of the CSSF eDesk platform, via the Investment firms section, which can be accessed via toolbox function, from Oct. 1, 2021.
May be delay of several days between submission of IFR reporting tables by supervised entities for reference period to Sep. 30, 2021, via new module, and validation by CSSF.
National reporting tables will continue to be submitted via usual transmission method specified in CSSF 08/334 and this in compliance with the related encryption terms.
The CSSF reminds that access to the eDesk requires a strong authorization by means of a LuxTrust certificate and that each user must be in possession of such a certificate.
More information is located in the User account authentication and managementguide.
Reporting Requirements
IFR reporting formalized in the draft technical standards specifying the formats as well as the dates, definitions and instructions regarding these reports, drawn up by EBA.
The national reporting according to Circular CSSF 05/187 on financial information to be submitted to the CSSF by the other professionals of the financial sector (PFS).
It applies to all Class 2, Class 3 investment firms; investment firm includes firms incorporated under Luxembourg law as well as branches established in Luxembourg of firms having head office outside EU, which are considered as Class 2 or Class 3.
Some national reporting requirements apply to branches established in Luxembourg by an investment firm having its head office in an EU Member State.
Handbook does not apply to large investment firms which are systemically important.
Or exposed to the same type of risks as credit institutions (Class 1 investment firms).
These entities are governed by banking regulations and must comply with circular CSSF 14/593 regarding reporting requirements applicable to credit firms, see #12232.
Track changes version included: updates versions to provide for EU reporting (section 3.1, section 3.2, section 3.2, section 3.4); clarifies preliminary and final versions to be provided (section 4.2.2); and updates of EBA reporting framework V3.2 (section 5.1).
Mar. 2024 Reporting Handbook V1.3, IPU Reporting
On Mar. 11, 2024, LUX CSSF informed of reporting handbook update and new eDesk approach for IPU threshold monitoring to verify if the thresholds are exceeded or not.
LUX CSSF issued a clean version of the reporting handbook for investment firms v1.3.
Updates include reporting requirements for investment firms under art 21b re intermediate EU parent undertaking of Dir (EU) 2019/878; preliminary, final versions.
Those refer to section 3.1.2.1, section 3.1.2.2, section 3.1.2.3, section 3.1.3.1, section 3.1.3.2, section 3.1.3.3, section 3.2.2 and section 3.2.3, as well as section 4.2.2.
Update of the EBA reporting framework V3.3 (s 5.1, 5.2); means of communication and introduction of S3 system submission (s 5.2) and contact information (section 6).
LUX CSSF also issued a version of the updated reporting handbook with track-changes.
LUX CSSF has opened the IPU threshold monitoring reporting data collection from investment firms of third country groups, on behalf of the EBA, as from 12 Mar. 2024.
Q4 2023 IPU report must be sent via the submission of the XBRL file in the dedicated eDesk process, via an API solution (S3 protocol), allowing the flow to be automated.
Supervised entities that are part of a third country group must submit to LUX CSSF the IPU threshold monitoring reporting (U 01.00 template (Annex II)) with reference date.
That of Dec. 31, 2023 in XBRL format by May 12, 2024 at the latest for the first time.
The U 02.00 template must be included with a negative filing indicator (= FALSE).
