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By Sigrid HEIRBRANT, Carmen SCHELLEKENS, Vincent WELLENS, Josée WEYDERT and Luc COURTOIS, NautaDutilh Avocats Luxembourg S.à r.l.
On 22 April 2022, the Luxembourg financial regulator (the “CSSF”) released Circular 22/806 on outsourcing arrangements (the “Circular”). By means of the Circular, the CSSF adopts and integrates the revised EBA Guidelines on outsourcing arrangements (EBA/GL/2019) (the “EBA Guidelines”) and, as far as fund management is concerned, the ESMA Guidelines on outsourcing to cloud service providers (the “ESMA Guidelines”). In addition to incorporating the EBA and ESMA Guidelines into the Luxembourg regulatory framework, the CSSF complements the EBA Guidelines with detailed requirements applicable in Luxembourg and extends their scope of...
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