06/15/2021 | Press release | Distributed by Public on 06/15/2021 08:05
Article 28-4 of the LFS is aimed at professionals whose activity consists in granting, for their own account, loans to the public. Given the increasing number of requests to take a stance regarding the interpretation of the notion of 'public' and the question of when the CSSF considers that a lending activity is directed towards the public, the CSSF updated the FAQ (Part II, Question 52) in order to provide clarification and legal certainty.
In the absence of a legal definition of the term 'public' in the LFS, the CSSF considers that a lending activity is not directed towards the public where:
In all other cases, the CSSF will carry out an assessment on a case-by-case basis.
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