Regulatory Watch – Lux Edition – February 2023

Aurexia Luxembourg Regulatory Watch adresses recent regulations updates for financial institutions

Content

• DLT guidelines published by ESMA,
• SFDR data collection exercise for Investment fund managers (IFMs) : the CSSF has launched the first part of a data collection exercise regarding sustainability-related disclosures in the financial services sector (SFDR) for investment fund managers (IFMs). The purpose of the exercise is to gather information on the organizational arrangements of IFMs and their compliance with SFDR and Commission Delegated Regulation (EU) 2022/1288.
• ESG regulation on greenwashing definition ,
• the final DORA act : DORA aims to strengthen the digital side of operational resilience through continuous monitoring, reporting and testing of network and information system security by:
  • densifying and harmonizing the rules of EU member states on the resilience of the financial sectorin the face of major incidents linked to ICT*
  • Defining targeted monitoring measures to mitigate the risks arising from the growing reliance on ICT* systems and service providers for critical operations;
  • Preventing and identifying any shortcomings or deficiencies and thus quickly adopting corrective
    measures.
  • Enabling the financial and insurance sectors to take advantage of the opportunities offered by technology and innovation while mitigating the new associated risks.
• ESMA new guidelines under EMIR rules (EMIR refit)
• CSFF Circular 28/825
• Regtech corner: Greenomy, a Regtech specialized in sustainable data reporting solutions.

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