On 22 July 2022, the Luxembourg financial sector supervisory authority (the "CSSF") published CSSF Regulation 22-04 amending CSSF Regulation 20-02 on the equivalence of certain third countries with respect to supervision and authorisation rules for the purpose of providing investment services or performing investment activities and ancillary services in Luxembourg by third-country firms (the “CSSF Regulation 22-04”).
The CSSF Regulation 22-04 adds China and Australia to the CSSF’s list of third countries which are considered as providing a regulatory framework equivalent to that of Luxembourg for investment services and ancillary services (“MiFID Services”).
As a result, investment firms having their central administration or registered office in China or Australia can now apply for the Luxembourg national equivalence regime for the purpose of providing MiFID Services to Luxembourg eligible counterparties and per se professional clients on a cross-border basis.
The CSSF Regulation 22-04 came into force on 20 July 2022.
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