Adaptive Quiz

10% of the capital or voting rights15% of the capital or voting rights25% of the capital or voting rights50% of the capital or voting rights

Submitted before 30 June each yearSubmitted before 31 March each yearSubmitted only in case of a change in shareholdingSubmitted only upon express request from the CSSF

Only after confirmation of the offenceBefore executing the suspicious transactionAfter validation by the Compliance Officer (RCC)Within 10 business days following the transaction

Any company with more than 50 employeesEntities whose core activities involve large-scale regular and systematic monitoringPublic entities onlyFinancial institutions supervised by the CSSF exclusively

Obtain the written consent of the Data Protection Correspondent (CIL)Conclude standard contractual clauses approved by the European CommissionDeclare the transfer to the CNPDNotify the transfer to the CSSF

24 hours48 hours72 hours7 business days

Mentions only the product’s past performanceIs fair, clear, and not misleadingIs approved by the Board of DirectorsIs addressed to professional clients only

To retail and professional clients receiving investment adviceTo execution-only transactionsTo eligible counterparties onlyTo non-complex products exclusively

1 year3 years5 years7 years

Any person with occasional access to inside informationA back-office employeeA manager or employee with regular access to inside informationAny retail investor

€1,000€5,000€20,000€50,000

Immediately after its internal creationAs soon as it is sufficiently precise and likely to affect the price of a financial instrumentAt market closeOnly upon the regulator’s instruction

Offering an undue advantageAccepting or soliciting an undue advantage in exchange for an actReporting a corruption actWitnessing an offered advantage

A general ethical statementA donations and sponsorship programmeDue diligence procedures on third parties and intermediariesA professional dress code

An internal warning onlyAn administrative fine with no criminal effectCriminal liability of the legal entityTemporary suspension from the commercial register

A contractual dispute between employeesAn actual or potential breach of EU law or national transposing lawA personal opinion on company strategyA personal conflict of interest

Only after notification to the CSSFWhen the internal or external report has remained unansweredIn all circumstancesAfter Board approval

OptionalMandatorySubject to regulator approvalRecommended but not binding

Commodity derivativesFinancial instruments as defined by MiFID IIIssuers and service providers of crypto-assetsUCITS management companies

Prior authorisation as an electronic money institutionSimple notification to the CSSFRegistration as a digital asset service provider (PSAN)Registration on a public blockchain

Comply with AML/CFT and governance requirementsHold only a general commercial licenceReport their activities to the Central BankBe established in any recognised third country

On the execution dayOn the next business day after executionWithin three business daysBefore month-end

Daily reporting to the local regulator (CSSF)Mandatory central clearing through an authorised CCPReporting obligation to ESMAExemption from bilateral margin if the counterparty is European

The NFC–, as it performs the reportingBoth counterparties jointlyThe FC, as the delegating partyESMA, as the supervisory authority

10% of the capital or voting rights15% of the capital or voting rights25% + 1 share of the capital or voting rights50% of the capital or voting rights

The Cypriot holding companyThe director of the Luxembourg companyMs. Z, as the indirect beneficial ownerNone, as the ownership is foreign

The trustee onlyThe settlor, trustee(s), designated beneficiaries, any person exercising effective control, and the protector, if applicableThe designated beneficiaries onlyThe settlor and the trust manager only

Unpatched hardware vulnerabilitiesHuman errorLarge-scale DDoS attacksFailures of external providers

A well-configured firewallMulti-factor authenticationRegular, tested, and network-isolated backupsA strengthened password policy

DPO (Data Protection Officer)CISO (Chief Information Security Officer / RSSI)CIO (Chief Information Officer)Compliance Officer

Harmonise tax rates among Member StatesEnsure tax transparency and detect aggressive tax planning arrangementsCreate a single European corporate taxAbolish professional secrecy across Member States

Deduction of a payment to a zero-tax jurisdictionDeduction of a payment to a non-cooperative jurisdiction (ETNC)Arrangement with a confidentiality clauseConversion of income into lightly taxed capital

Do nothing and invoke absolute professional secrecyReport the arrangement anonymously to the Tax AdministrationNotify the reporting obligation to another intermediary or, failing that, to the taxpayer concernedWait until the fiscal year-end to submit a consolidated report

Hold the assets for their own benefitManage the assets according to the trust deed, in the interest of the beneficiariesSupervise the protector and the settlorFreely determine the trust’s beneficiaries

The settlor, the trustee, the beneficiaries, and any person exercising effective controlOnly the beneficiaries named in the trust deedThe trustee and the protector onlyThe settlor and the trustee only

Wait until the trustee designates the beneficiaries before any identificationIdentify the category of potential beneficiaries (e.g., children, heirs, employees) and apply enhanced due diligenceDo not declare them since they are not yet knownConsider only the settlor as the beneficial owner

The risk of losses due to market fluctuationsThe risk of losses resulting from inadequate or failed internal processes, people, systems, or from external eventsThe risk related to regulatory non-complianceCounterparty risk in a credit operation

A corrective control based on post-incident reportsA preventive control involving segregation of duties and independent payment validationAn automatic detection control after funds transferAn annual internal audit control

Maintain a loss register and appoint an IT managerIdentify, measure, monitor, and manage operational risk through an independent risk management function, covering ICT risk and outsourcingCentralise all operational decisions in general managementLimit operational risk management to the compliance department

Adaptive Quiz

Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT)

Personal Data Protection (GDPR)

MiFID II (Markets in Financial Instruments Directive II)

MAR (Market Abuse Regulation – Regulation (EU) No 596/2014)

Anti-Bribery and Corruption (ABC)

Whistleblowers (Directive (EU) 2019/1937, Luxembourg Law of 16 May 2023)

MiCA (Markets in Crypto-Assets Regulation – Regulation (EU) 2023/1114)

EMIR

Beneficial Ownership (BO) Identification

Cybersecurity – Introduction

DAC6 – Introduction

Trusts – Introduction

Operational Risk