This article LTG
Goldrock introduces Luxembourg's financial supervision system ~
Luxembourg's financial supervision system was June 1, 1983. Luxembourg Monetary Bureau replaced the Banking Control Commission and began to start with all credit institutions.
(Including banks and non -bank financial institutions) implementation of financial supervision mechanisms.In addition, it is also responsible for supervising investment funds and securities institutions.In addition to fulfilling financial supervision duties, Luxembourg Monetary Bureau is also responsible for formulating and implementing monetary policy.
In terms of financial supervision, the Monetary Bureau also often listens to the opinions and suggestions of the consulting committee. The consulting committee consists of some experienced and influential bankers.According to the law, the Luxembourg Bureau has extensive power in the approval and registration of credit institutions, and has the right to intervene in the credit institutions with problems. If the problem is serious, the problem can be suspended and cleaned up.
In terms of supervision of foreign banks, because Luxembourg does not specifically fulfill the duties of the last borrower's duties, the Luxembourg authorities rely on foreign banks' head office, parent company or central bank to give their financial support to Luxembourg institutions in Luxembourg.And implement supervision.Each credit institution must report detailed statistics to the Luxembourg Monetary Bureau. The Luxembourg Monetary Administration has the right to check and verify the accuracy of the accounts and other information provided by the credit institutions.
In order to objectively evaluate the overall status and business policy of various credit institutions, if it is considered necessary, the Luxembourg Monetary Administration has the right to ask the credit institution for any relevant information.In most cases, regular on -site inspections are performed about once a year.Each credit institution must accept the audit of an independent audit company.
