New CSSF circular: out-of-court resolution of complaints
By Charles Krier, Katarina Gerard and Michel Bulach
Out-of-court resolution of complaints: new CSSF circular 14/589 giving details regarding the provisions applicable to professionals that entered into force on 1 July 2014.
The said provisions applicable to professionals are set out in section 2 of CSSF Regulation No 13-02 of 15 October 2013 relating to out-of-court resolution of complaints. The regulation, applying to any natural or legal person falling under the prudential supervision of the Luxembourg supervisory entity CSSF entered into force: on 1 January 2014 as regards the regulatory framework of the CSSF in order to handle customer and investor complaints (sections 1 and 3 of the regulation); and on 1 July 2014 as regards the obligations incumbent on professionals in relation to the handling of complaints (section 2 of the regulation)…
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