Luxembourg financial watchdog wants to give up sanction powers

Claude Marx, director general of CSSF, tells conference that regulator does not want power to fine companies.

Luxembourg's financial watchdog has asked politicians to remove its power to sanction or fine financial firms.

Claude Marx, director general of the Commission de Surveillance du Sector Financier (CSSF), told a conference the regulator had proposed a draft law that would instead give the power to sanction to an independent body

(Source: Luxembourg Times)