1. General statement
The CSSF draws the attention to the fact that it is the responsibility of each professional to carry out
their ML/TF risk assessment and to establish, where necessary, appropriate measures to mitigate
the threats and vulnerabilities identified.
2. Scope
1. Should an ML/TF risk assessment and related AML/CFT due diligence
measures be conducted on securities admitted to trading on a regulated
market?
Published on 13 December 2024
As a result of recent assessments in relation to ML/TF threats and vulnerabilities, as well as, of peer
reviews conducted by the CSSF, including input from the members of the Public Private Partnership
OPC AML, it can be concluded that securities admitted to trading on a regulated market1 are less
exposed to money laundering and terrorist financing risks due to existing market disclosures and
controls.
As a consequence, in order to be compliant with Article 34(2) of CSSF Regulation 12-02, the CSSF
considers that, for the sake of risk assessment and mitigation, it is sufficient for the professional to
demonstrate, upon request, that such securities are actually admitted to trading on a regulated
market.
3. Frequency
1. Should the risk assessment of the assets not admitted to trading on a
regulated market be performed on an annual basis if there is no change
on the asset?
Published on 13 December 2024
The initial risk assessment is used to determine the extent of the AML/CFT due diligence that shall
be conducted by the professional. The higher the ML/TF risk, the more thorough the due diligence
needs to be. These due diligence measures need to be adapted should the risk assessment change.
In practice, it is acceptable that if no relevant change happened during the year, a renewal of the
annual risk assessment is not required.
1
These assets may also be referred to as “listed assets” in CSSF surveys.
FAQ ON AML/CFT ASSET DUE DILIGENCE OBLIGATIONS IN ACCORDANCE WITH CSSF REGULATION NO 12-
02
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13 December 2024 – Version 1
