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On 14 October 2021, the CSSF published its new CSSF Circular 21/785 with regard to replacing the prior authorisation obligation with a prior notification obligation in the case of material IT outsourcing, ...
On 12 July 2021, the Luxembourg regulator of the financial sector, the CSSF, published its Circular 21/777 implementing the ESMA' guidelines on outsourcing to cloud service providers (ESMA50-164-4285, "ESMA Guidelines").
On 5 August 2021, the Luxembourg insurance supervisory authority Commissariat aux Assurances ("CAA") adopted a new Circular Letter 21/15 on outsourcing to cloud computing service providers (the "Cloud Circular") that applies to CAA supervised insurance and reinsurance undertakings.More than a year ago, the CAA had already issued a circular letter (20/13) which merely informed of the full application by the CAA of the EIOPA Guidelines on outsourcing to cloud service providers (EIOPA-BoS-20-002) (the "Guidelines") and remembered (re-)insurance undertakings...