Commission de Surveillance du Secteur Financier

Luxembourg Open Banking Regulator

EU
🏛️
Jurisdiction
Luxembourg
📋
Regulations
0
Open Banking frameworks
🌍
Region
EU
🔗
Type
NCA
National Competent Authority

About Commission de Surveillance du Secteur Financier

The Commission de Surveillance du Secteur Financier is the primary financial regulatory authority in Luxembourg responsible for overseeing open banking and financial services. As a National Competent Authority (NCA), they ensure that banks and third-party providers comply with open banking regulations, protecting consumers while fostering innovation in financial services.

SCA Update: On 30 August 2019, the Luxembourg regulator announced a temporary enforcement extension for Luxembourg cards. Banks will need to contact the regulator directly to secure this delay. They expect to have additional details on the exact enforcement timeline later this year.

Jurisdiction

Luxembourg
View Open Banking providers, banks, and TPPs in Luxembourg

Key Responsibilities

Licensing and authorizing Third-Party Providers (TPPs) including AISPs and PISPs
Ensuring banks provide secure API access to authorized third parties
Monitoring compliance with Strong Customer Authentication (SCA) requirements
Investigating complaints and enforcing consumer protection standards
Publishing guidance and technical standards for open banking implementation
Coordinating with other regulators on cross-border open banking matters

Official Resources

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