Update BRP Country Manual Products
Luxembourg
| SOURCE OF CHANGES | ANSWERS |
|---|---|
| Law/Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s interpretation | Yes |
Definitions & Concepts, Regulatory Overview and Behaviour Template
The Country Manual has been reviewed to ensure that the content of all the documents remain accurate and up to date.
Material changes
In alignment with the CM Private Banking (CM PB), the provision of execution only services should only be provided on an occasional basis onshore in Luxembourg (at target) provided that the orders are passed to the service provider’s country of establishment. The CM Products Behaviour Template (CM P BT) therefore now provides the answer “Grey zone/YES – On an occasional basis. Provided orders are passed to the service provider’s country of establishment for execution” in the relevant onshore scenario.
Non-material changes
Some comments and content have been slightly reworded in the CM, without introducing substantive changes to reflect the regulatory situation/current interpretation of the regulatory framework more accurately.
For more information, please contact us: info@brpsa.com
Geneva, May 26th, 2025