Commission de Surveillance du Secteur Financier

1. Nature of the institution

The Financial Industry Authority (CSSF) is a public regulator: for Luxembourg's financial industry professionals and products;The means are supervision, regulation, authorization, notification and (where appropriate) on-site supervision and the issuance of sanctions.

In addition, the agency helps financial markets provide more transparent and efficient financial products and services, protects financial consumers and combat money laundering and terrorist financing.

2. History of the organization

CSSF was established in 1998.

3. Regulatory functions

The CSSF performs the functions of prudential supervision and oversight of markets to ensure the safety and soundness of the financial sector (only as required by the public interest).Within its mandate, it ensures that authorized entities and issuers comply with relevant regulations, including protection of financial consumers and prevention of money laundering or terrorist financing in the financial sector.

4. Regulatory objectives/scope

Banks, financial holding companies, investment companies, professional personal finance experts, assistant personal finance experts, payment institutions, electronic money institutions, investment tools and managers, securities market, etc.

1.Regulatory Framework: 5 April 1993 Act, European Market in Financial Instruments Directive (MiFID II/MiFIR), European Market Infrastructure Regulation (EMIR)

2.Account opening for overseas customers: Yes

3.Leverage limits: EU standard

4.Negative balance protection: EU standard

Generally speaking, CSSF-regulated broker profile will be found at the search entities page on CSSF website. Try to find it and check if it will match the info from the broker website.

The detailed steps are as follow:

1. Find the code no.(preferred) or name of the forex broker, which you can get from the broker's website;

2. Enter the code or broker's name into the search bar on https://searchentities.apps.cssf.lu/search-entities/search?&st=advanced&entType=IF

3.Click the company name to enter the company details page.

When you have disputes with a CSSF-regulated broker, you can proceed the following ways:

1st way： Contact a foreign exchange dealer directly

When you have a complaint, the best way is to contact the foreign exchange platform directly to help solve.

1) It is better to send your complaint by mail so that they can keep a record of it and solve your complaint better.

2) When the company receives a complaint, it will inform you in writing that it has received your complaint.

2nd way: Online Dispute Resolution (ODR)

The Online Dispute Resolution (ODR) platform, provided by the European Commission, allows investors and traders in the EU or Norway, Iceland and Liechtenstein to resolve disputes relating to online purchases of goods and services without recourse to the courts.

Before litigation:

You reside in an EU country or in Norway, Iceland or Liechtenstein;

The broker is located in an EU country or Norway, Iceland or Liechtenstein;

Your complaint is about goods or services that you purchased online;

You have the correct email address for the trader;

You have contacted the Broker about your complaint;

This is your first attempt to reach an out-of-court settlement with your broker

You did not take the broker to court before.

These conditions mean that this complaint channel does not apply to Chinese investors.

Complaint process:

The first step is to file a complaint.

The second step is to choose an arbitration institution.

After the dealer agrees to use the Dispute Resolution Procedure to deal with your complaint, you will have 30 days to reach an agreement with the Provider.

The third step is complaint resolution.

Once the Provider has reached an outcome on your complaint, it will notify the outcome on the ODR platform.You can view the results simply by logging into your account.

The complaint site at: https://ec.europa.eu/consumers/odr/main/index.cfm?event=main.home2.show&lng=EN , click "Start a New Complaint" and fill in the form.

3rd way: Out-of-court complaint handling

CSSF receives complaints from customers of regulated specific entities and acts as a dispute resolution agency in accordance with the provisions of European legislation on out-of-court customer dispute resolution.The CSSF is registered both as an Alternative Dispute Resolution (ADR) Body under Regulation 431-1 of the Consumer Code and as the ADR Body of the European Commission.

Complaints are handled by the Consumer Protection/Financial Crimes Law Unit. The contact information for the complaint agent is as follows:

Mail: reclamation@cssf.lu

Telephone :(+352) 26251-2574 or (+352) 26251-2904

Fax :(+352) 26251-2601

The submission of an out-of-court complaint resolution procedure to the CSSF shall be handled by the responsible person of the relevant profession.The complaint must first be submitted in writing to the person responsible for handling the complaint. If you have not received a satisfactory response or a confirmation notice one month after submission, you may apply to the CSSF for out-of-court processing.

The complaint form download: http://www.cssf.lu/fileadmin/files/Formulaires/Reclamation_111116_EN.pdf