It seems to me that the CSSF is starting to show more teeth recently after already revoking the license of Fuchs & Associe at the end of 2023. Banque Havilland certainly had their share of “weird” headlines about them but a license revocation effectively puts over 130 employees on the street, which is quite a significant number to be added to the redundancies announced by UBS/Credit Suisse.
I know it’s a tough line to walk balancing regulatory oversight with competitiveness but Luxembourg and the CSSF should be careful to not over-regulate our financial industry into a major correction.
Fast_Gap7215 on
Well CSSF is well known in the regulatory watchdog area for its weak and soft approach. It looks this is changing now
4 Comments
Isn’t that the former ‘good bank’ of Kaupting?
It seems to me that the CSSF is starting to show more teeth recently after already revoking the license of Fuchs & Associe at the end of 2023. Banque Havilland certainly had their share of “weird” headlines about them but a license revocation effectively puts over 130 employees on the street, which is quite a significant number to be added to the redundancies announced by UBS/Credit Suisse.
I know it’s a tough line to walk balancing regulatory oversight with competitiveness but Luxembourg and the CSSF should be careful to not over-regulate our financial industry into a major correction.
Well CSSF is well known in the regulatory watchdog area for its weak and soft approach. It looks this is changing now
Close the fucking Gazprom bank