Assessment of professional standing and experience – update of the declarations of honour

The CSSF updated the declarations of honour for natural and legal persons following an adaptation of its administrative practice as regards the assessment of professional standing and experience. These adjustments do not concern the procedures or declarations of honour to be submitted as part of the supervision of credit institutions.

The CSSF made the following adjustments to the declarations of honour:

• The declaration of honour must be signed, dated and submitted either in paper form bearing a handwritten signature or in electronic form bearing a qualified electronic signature within the meaning of Regulation (EU) No 910/2014 authenticating the declarant.
• The content of certain elements of information to be provided in the declarations of honour was clarified.
• The declarant must, in particular, declare the following:

– never having exercised nor currently exercising a significant function or influence in an entity which has been subject or which currently is subject to a criminal procedure or sanction;
– having submitted the extracts of the criminal records issued by the competent authorities of each of the countries of residence of the last five years preceding the signature of the declaration of honour, or, where applicable, that no criminal record can be delivered for one or several countries of residence concerned;
– that the documents transmitted or to be transmitted to the CSSF include complete, sincere and accurate information and that are up to date at the time of the submission to the CSSF;
– that the copies of the documents submitted to the CSSF are in all respects true copies of and identical to the original documents.

• The content of the declarations of honour for natural persons and for legal persons was harmonised.

These adaptations were considered appropriate in order to take into account the evolution of the CSSF’s administrative practice with respect to the assessment of professional standing and experience which aims at limiting the collection of physical documents.

Henceforth, the CSSF will no longer require original versions or certified copies of documents to be submitted with the declaration of honour, except in exceptional circumstances. Furthermore, the CSSF will no longer require the declarant to submit an updated version of the documentation at the end of the assessment procedure, where no change has occurred in the meantime.

The CSSF reiterates that the declarant is required to inform the CSSF of any change or evolution of the information provided as part of the declaration of honour.

The new versions are applicable as of 1 July 2024.

Moreover, the CSSF reiterates that the curricula vitae to be submitted as part of the assessment of professional standing and experience must state in a comprehensive and detailed manner:

• the surnames and forenames, place and date of birth, address and nationality(ies);
• the diplomas, as well as any training or certificates in relation with the position sought, the linguistic skills;
• all the positions held throughout the professional life, including the respective names and business areas of the employers, a description of the responsibilities and the tasks carried out, the date of commencement of employment and the date of termination of employment; and
• the current and previous authorisations issued by a financial sector supervisory authority of any country as well as the nature, the scope and the duration of the authorisation.