In line with the evolution of legal and regulatory requirements, Banque Degroof Petercam Luxembourg has strengthened its compliance framework.
As for any other financial institution, the changing environment requires Banque Degroof Petercam Luxembourg (the Bank) to adapt to regulatory requirements. The Bank works closely with the Commission de Surveillance du Secteur Financier (CSSF) and all regulatory bodies to ensure the highest level of compliance with laws and regulations.
A committed player in the Luxembourg financial market since 1987, serving a demanding high-end clientele, Banque Degroof Petercam Luxembourg has adopted values and rules of conduct marked by strong ethics.
At the end of 2022, the CSSF informed the Bank of the conclusion of its 2019 inspection of the Bank's internal control procedures for the prevention of money laundering (AML/FT). Although the inspection carried out did not reveal any illegal acts, the CSSF found certain deficiencies in the Bank's processes and imposed an administrative sanction taking into consideration the Bank's prompt reaction to implement corrective actions and marking the end of this procedure.
During this period, the Bank has strengthened its internal governance and is constantly improving its compliance controls, procedures and tools, including investing in strengthening its compliance and risk teams to maintain high standards of compliance with applicable legal and regulatory requirements.
