Library picture: Claude Marx of the CSSF is seen speaking at a conference in September 2018. Photo credit: Anthony Dehez
Nearly 500 British financial service providers have registered for the Luxembourg Financial Sector Supervisory Commission’s (CSSF) Brexit transitional regime.
Claude Marx, director general of the CSSF, disclosed the number during Deloitte’s cross border fund distribution conference on 4 February.
Marx stated at the conference:
“The CSSF will do its utmost to avoid market disruption following Brexit. But I am optimistic, because the United States is the country that uses Luxembourg the most as a base for distributing funds. And as far as I know, they are not part of the European Union…”
The CSSF opened applications for the interim Brexit scheme via its “eDesk” digital portal on 2 August 2019 and closed registration on 31 January 2020.