As you may remember, the ABBL has issued in July last year a guidance document to assist its members in the implementation of the law of 30 March 2022 on inactive accounts and inactive safe deposit boxes, which has entered into force on 1st June 2022.
Following the issuance on 22 December 2022 of the CSSF Circular 22/825 on data collection on inactive accounts and inactive safe deposit boxes, this guidance document has been updated notably to include reporting examples that were discussed within the ABBL dedicated working group with CSSF representatives.
This guidance document, which is available on the Membernet, is designed to help ABBL members to comply with their respective legal and regulatory obligations regarding inactive accounts and inactive safe deposit boxes.
Contact person:
Jonathan Hug, Senior Legal Adviser