Banking & finance
Banking and financial services lawyer in Luxembourg
The firm assists players in the Luxembourg financial sector: obtaining and maintaining PSF status, payment or electronic money institution licences, fund distribution, MiFID compliance, outsourcing agreements and relations with the CSSF.
Legal content reviewed by Maître Cora Maglo, Avocate à la Cour, Liste I du Barreau de Luxembourg depuis 2009.
Luxembourg is a leading financial centre, closely supervised by the CSSF. Any operator providing financial services, whether a professional of the financial sector (PSF), a payment institution, an electronic money institution or a fund distributor, must secure its status, its governance and its contractual documentation.
Cerno Law Firm advises these operators on access to the activity, compliance and contracting, working alongside their compliance teams and, where relevant, their prudential advisers. The firm is the lawyer of the operators; it is neither the CSSF nor an outsourced compliance provider.
The need
You are launching or expanding a financial activity in Luxembourg (PSF, payment, electronic money, fund distribution) and must secure your status, your governance and your contracts.
Without rigorous regulatory and contractual framing, access to the activity, the licence and your relations with clients and providers become a source of risk.
The risk
An unsuitable status or one carried out without a licence, incomplete MiFID documentation, outsourcing agreements that do not comply with CSSF circulars, insufficient governance and substance.
A poorly framed financial activity exposes you to prudential sanctions, loss of the licence and disputes with clients and counterparties.
How the firm acts
Analysis of the required status and support with the licence application, drafting of contractual documentation (general terms and conditions, service agreements, MiFID, outsourcing), governance and compliance advice, monitoring of relations with the CSSF.
Cerno is a law firm admitted to the Luxembourg Bar; its digital tools only simplify information gathering, qualification of the matter and tracking of requests, never replacing the lawyer's advice, who validates every regulatory structure.
Practice areas
When to call on the firm
- Obtain or upgrade a PSF status with the CSSF.
- Structure a payment or electronic money institution.
- Secure fund distribution and MiFID documentation.
- Bring your outsourcing agreements into compliance (CSSF circulars).
Method
Our engagement process
- 1
Information intake
You describe your need via a structured form or an initial call. Our digital tools serve only to organise this information and save time.
- 2
Lawyer qualification
Maître Maglo reviews your situation, identifies the legal issues and confirms the feasibility and exact scope of the engagement.
- 3
Transparent quote
You receive a clear fee proposal, a fixed fee or a range, before any engagement. Nothing is billed without your approval.
- 4
Legal work
The firm drafts, negotiates or litigates as required. Every deliverable is designed and approved by a lawyer admitted to the Luxembourg Bar.
- 5
Tracking and delivery
You follow your matter transparently and receive your finalised documents with the explanations you need.
Documents required
- • Description of the intended financial activity
- • Shareholding and governance structure
- • Existing contracts and compliance policies where applicable
- • Any exchanges already initiated with the CSSF
Deliverables
- • Status analysis and licensing roadmap
- • Drafted contractual and compliance documentation
- • Support with relations with the CSSF through to authorisation
Indicative timing
The framing of the status and the first documentation are delivered within a few working days; the licensing timeline depends on the CSSF and on the complexity of the matter.
Stated fees
Consultation from EUR 175 excl. VAT; regulatory framing and documentation on a tailored quote depending on the targeted status and complexity. Everything is quoted before any engagement.
FAQ
Frequently asked questions
What is a PSF in Luxembourg?
A professional of the financial sector is an operator licensed and supervised by the CSSF to provide certain financial services. The firm analyses the required status and supports the licence application.
Does the firm obtain the CSSF licence on my behalf?
No. The licence is granted by the CSSF. The firm structures the file, drafts the documentation and supports the exchanges, but does not act in place of either the regulator or the applicant.
Do you handle MiFID compliance?
Yes, on the legal and contractual side (client classification, information, documentation). The firm works in coordination with your compliance teams.
Is Cerno a compliance provider?
No. Cerno is a law firm admitted to the Luxembourg Bar. It advises financial operators on legal matters; the digital tools only serve to organise information and tracking.
Member of
Affiliations & réseaux professionnels
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Choosing Cerno means choosing over 17 years of experience
- 2013
- independent firm
- 2009
- at the Bar since 2009
- 7
- working languages
- 100+
- companies & SOPARFI structured
- 200+
- visas & residence permits obtained
- 170
- client nationalities served
- 300+
- due diligence reviews conducted
Around twenty M&A transactions supported · one of the best visa approval rates in Luxembourg.
Since 2009, we devote our expertise to your satisfaction: more than 85% of our clients renew their trust in us.
Our work
Representative matters, anonymised
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A holding company and a residence permit, in a single process
Incorporation of a SOPARFI for a non-resident investor, combined with obtaining their residence permit. A single point of contact across both fronts.
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Structuring a shareholders’ agreement and governance for a young company with several founders, ahead of a funding round.
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Cross-border recovery of unpaid debts for an SME, through an order for payment and coordination with a foreign colleague.
Receivable recovered in full (100%)A similar matter? Employment lawAn executive defended before the Labour Tribunal
Supporting an executive in a contested dismissal, from strategy to representation at the hearing.
Case argued at the hearingA similar matter? ContractsA secured international distribution
Negotiating and securing an international framework distribution agreement, from liabilities through to the competent jurisdiction.
Competent jurisdiction securedA similar matter?Typical, anonymised examples, for illustration only. They do not prejudge the outcome of a matter, which depends on each situation.
Entrust my matter to the firmExpertise & authority
Ongoing review and analysis of Luxembourg and European case law
Avocate à la Cour, List I of the Luxembourg Bar since 2009
Trained at the London School of Economics, formerly at Clifford Chance and Bonn Steichen & Partners
Member of international networks: EILN, AEA, Cross Border Advisory Solutions
Every matter handled and approved by a lawyer admitted to the Bar
Support in 7 languages, clients of 170 nationalities
Testimonials
What our clients say
Had a consultation with Me Cora Maglo about my Luxembourg Blue Card application. She explained everything clearly: the process, timeline and documents I need, and helped me with my wife’s family reunification too. Honest and practical advice. I felt confident after talking to her.Farshid Pourlatifi
J’ai beaucoup apprécié le service de Maître Maglo : son sérieux, sa sympathie, son professionnalisme et sa disponibilité. Toujours répondu rapidement et clairement, avec des conseils pragmatiques, sans pousser à des procédures longues et coûteuses lorsqu’elles ne sont pas justifiées.Nathan Wirtzfeld
Super assistance and great support! Highly recommend. All my questions were answered, Cora and her team kept me updated all the time. I will definitely reach out to them next time for my residency.Tatiana
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