Achieve compliance with CSSF cloud computing obligations

Cloud computing represents an opportunity for the companies of the financial sector. With Grant Thornton's assistance on cloud computing CSSF files, you can use the envisaged cloud computing resources in line with the CSSF regulation faster.

Cloud computing solutions are increasingly used in Luxembourg (as well as the financial sector). This is mainly due to need to reduce business costs and improve security (access, continuity,...). The  CSSF has issued a Circular in 2017 (CSSF 17/654) which has been updated in March by the Circular CSSF 19/714, that reflects the trend.

The new legal regulatory framework enables financial sector’s companies to use cloud computing resources more easily, as cited below.

For instance, on a case by case basis firms need to:

  • Obtain an authorisation from the CSSF
  • Notify the CSSF
  • Merely maintain a register of activities outsourced internally

Grant Thornton Luxembourg has an extensive experience in assisting financial sector’s companies to achieve compliance with their CSSF cloud computing obligations.

Through a workshop, we propose you to analyse how this Circular impacts your organisation and help you to define an action plan to achieve and maintain compliance with could computing obligations.

 

For more information about cloud computing, please contact Gérard Flamion.

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