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      Financial Sector Professionals

      In response to the trend towards increasing specialisation in the financial sector, the Luxembourg Government has progressively extended the status of “Financial Sector Professional”, created by the Law of 5 April 1993 on the financial sector, to a range of complementary activities. By submitting all natural and legal persons professionally engaged in this type of activity to regulation and supervision by the financial supervisory authority, the Commission de surveillance du secteur financier (CSSF), the Government seeks to facilitate the outsourcing of non-core activities by ensuring the high quality of services and professional confidentiality required in the sector.

      PSFs fall into several categories:

      • Investment firms :
        Investment advisers, brokers in financial instruments, commission agents, wealth managers, professionals acting for their own account, market makers, underwriters of financial instruments, distributors of units and/or shares in undertakings for collective investment (UCIs), financial intermediation firms and investment firms operating a multilateral trading facility (MTF) in Luxembourg;
      • PSFs other than investment firms :
        Registrar agents, professional custodians of financial instruments, operators of a regulated market authorised in Luxembourg, operators of payment or securities settlement systems, currency exchange dealers, debt recovery, professionals carrying on lending operations, professionals carrying on securities lending operations, professionals providing fund transfer services, administrators of collective savings funds and managers of non coordinated UCIs;
      • PSFs pursuing an activity related to, or complementary to, a financial sector activity :
        Company domiciliation agents, client communication agents, administrative agents of the financial sector, primary IT systems operators of the financial sector, secondary IT systems and communication networks operators of the financial sector and professionals providing company formation and management services.