The CSSF’s professional secrecy and its legal exceptions (only in French)

Why this matters

This is a regulatory clarification communiqué from the CSSF (Luxembourg's financial supervisor) explaining the legal framework governing professional secrecy and its exceptions. The document addresses: (1) the principle of professional secrecy under Article 16 of the CSSF's organic law and Article 458 of the Luxembourg Penal Code; (2) legal exceptions including information exchange between authorities, rights of defense in criminal cases, and publication of administrative sanctions; and (3) the balance between confidentiality obligations and transparency requirements. While informational in nature (urgency: null), it carries significance as regulatory guidance clarifying obligations for all supervised entities regarding disclosure, governance, and compliance with EU directives on sanctions publication. The content is specific to financial sector regulation and applies broadly across banking, investment management, and capital markets firms under CSSF supervision.

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