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The Commission de Surveillance du Secteur Financier (“CSSF”) would like to inform all entities and persons under its AML/CFT supervision that the Financial Action Task Force (“FATF”) has adopted its revised risk-based approach guidance for the securities sector on 26 October 2018.
The risk-based approach is central to the effective implementation of the 2012 FATF Recommendations, which is equally reflected in the 4th European AML Directive implemented through the Law of 12 November 2004 on the fight against money laundering and terrorist financing, as amended. The FATF guidance aims to support the design and implementation of the risk-based approach for a wide range of securities products and services, including the provision of investment funds. It provides specific...
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