The EBA calls for more action by financial institutions in their Brexit related communication to customers

The CSSF would like to inform the public that on 17 December 2018 the European Banking Authority (EBA) published a communication calling concerned financial institutions (i.e. credit institutions, investment firms, payment institutions and electronic money institutions, and lenders and credit intermediaries) to increase their efforts in communicating to customers.

The EBA urges such institutions to take its June 2018 Opinion on financial institutions’ preparedness for the UK withdrawal from the EU into careful consideration, and especially to swiftly proceed with advising customers on the specific consequences deriving from the UK withdrawal from the EU, and also to maintain their efforts in effective contingency planning.

For more details, please see the EBA website at:

https://eba.europa.eu/the-eba-calls-for-more-action-by-financial-institutions-in-their-brexit-related-communication-to-customers