Economics

Luxembourg's CSSF welcomes new supervisory convergence principles

The European Securities and Markets Authority (ESMA) has published three opinions setting out principles in the areas of investment firms, investment management and secondary markets, aimed at fostering consistency in the relocation of entities, activities and functions from the United Kingdom to the EU.

21.07.2017

Luxembourg's regulatory body for the financial sector (CSSF) welcomes the principles laid out by the European Securities and Markets Authorits (ESMA) in the areas of investment firms, investment management and secondary markets for companies planning to relocate from the UK to EU27.

The principles are designed as practical tools to support the supervisory convergence for UK-based financial market participants seeking to relocate due to Brexit and focus on the transfer of entities, activities and functions.