Data Reporting

Data Reporting Service Providers (“DRSP”) are subject to prior written authorization from the Minister responsible for the CSSF if we intend to offer data reporting services as a regular occupation or business. This is in accordance with Articles 29-7 and 29-8 of the Law of 5 April 1993 on the financial sector (“LFS”).

Article 29-8(2) of the LFS permits credit institutions, investment firms, or market operators operating a trading venue to conduct data reporting services, provided we can verify Our compliance with Sub-section 4 of the LFS (Articles 29-7 to 29-15). These services should be included in Our authorization.

DRSPs are characterized by three exceptions compared to other categories of financial sector professionals. Firstly, we are not subject to shareholder requirements (Article 18(20) of the LFS) and capital base requirements (Article 20(1) of the LFS).

Secondly, Article 41 of the LFS does not apply to the activities carried out by an Approved Publication Arrangement (APA) or a Consolidated Tape Provider (CTP).

Persons authorized in Luxembourg to provide data reporting services as outlined in annexe II, section D of the LFS are permitted to offer these services throughout the entire European Union. Similarly, the same services can be provided in Luxembourg by persons authorized by another Member State, provided that the planned services are covered by an authorization and fall under the services outlined in annexe II, section D of the LFS.

For more information, please feel free to contact Neptune Fiduciaries at info@neptunecorporate.com or sales@neptunecorporate.com.